What Goes Around Comes Back Around
66NYC Economy Will Crash
Update: Manhattan real estate values are now in freefall. I knew it would come to this. The credit crisis timeline that is located at the bottom of this page has some information on housing decline and one article has stated that the Manhattan housing market could become the ugliest of all.
Bookmark this page for frequent updates from the credit crisis timeline.
I am angry. This hub is written in anger at the financial system and the regulators and the Bush administration that allowed American's to be screwed by toxic loans. If you want to read this hub you will have exposure to strong words. Be warned.
Let's face it folks, NYC screwed California. First it was "little" things, like the Enron vs. California power lawsuit information contained in WTC7. That tower was not hit by a plane, but since Ken Lay, may his soul not rest down in hell, was Bush Liar's major campaign contributor, they found a way to bring the building down. Larry Silverstein, owner of WTC was a New Yorker. He said WTC7 was "pulled". Marvin Bush, the president's youngest brother, was a New Yorker. His contract to control the security cameras at WTC ended on 9/11! See Links below for an explanation of his role.
But the real Screwing of California came with toxic arm loans that the investment banks pawned off onto the world in the form of toxic bonds, thereby allowing Scumtrywide (Countrywide) and other credit banks to continue to screw the California populace with doomed to fail loans.
BTW, the toxic loans were above the former allowable limit of 417 thousand dollars so Fannie and Freddie were not involved in this Alt A loan meltdown that still faces us. That Alt A mess is bigger and more dangerous than the subprime Fannie/Freddie problem. If we just had that problem, the housing crisis would be contained, but it is far from being contained. Resets will increase in late 2009 and into 2011 for Alt A. Prime toxic loans are melting down as well.
But what goes around comes back around. NYC is facing financial disaster with their own decrease in housing prices that is just starting to manifest.. It is just a matter of time before the lack of bonuses on Wall Street will translate to a NYC housing market that must pop. The NYC real estate bubble just has to pop.
Volume of stocks being sold is coming down. That means less money for brokerage firms. There are no deals being done because cash must be offered in place of over the top leverage. So brokerage firms will lose there too.
And then lets talk about the banks. Well the big banks are near insolvency. The links below will show you what houses should be valued at and why banks will be in big trouble. So then, banks, well, spank the banks. Nationalize the bastards, and I mean BAC, C, WF and JPM. They don't deserve to exist as they are formulated.
They defrauded the American people and while they are not located in NYC, they took over investment banks who raped the American people who are located in NYC and or phony lenders who were facilitated by the Bears, and Merrills, and Goldmans of the world. And in the process they became helpless and unable to lend, and they threw their shareholders under the bus!
What Goes Up Must Come Down
Thanks to NYC the economy is screwed. Links to Causes and Results of the Bank Fraud Centered in NYC.
- Schumer Sucks
Chuck Schumer sucks. He wants to take the bad loans on the books of the banks, have a third party estimate their value two years down the road, and give a guarantee to the banks based upon a crystal ball that... - Anti Neocon Hubpages
Marvin Bush worked as security head of WTC and under his watch squibbs were observed, filmed and photographed coming out of all the towers on 9/11. Marvin Bush is the brother of George Bush. I like recipe... - George Bush Legacy
Never has a president of the United States been engaged in as many outright, verifiable lies that have taken down our country in economic power, prestige, honor, and morality as the younger George Bush. So... - If I Were A Bank
I am not speaking for the banks officially. Think of me as a make believe bank as you read on. While this blurb is humor it is also deadly serious. Pay attentiion, you hear? If I were a bank, I would not lend... - California IOU Tax Refunds
Update: See New Must See Videos about our fiscal crisis in California. Update: Judge says state of the state of California is a mess and allows the governator to furlough state employees two Fridays per... - Foreclosures Are The Solution
Coalinga, Ca. 1983 earthquake While I agonize over people losing their homes, what needs to be understood is that the federal government of the United States created a vast, easy money, loose lending ponzi... - Class Warfare
Before I get into the subject I warn you now, do NOT buy a house. I repeat, do not buy a house. Artificially low interest rates are a TRAP. If interest rates increase in the future which often happens when... - The Government of the United States is in Denial Regarding Housing!
Clearly, the government of the United States is in denial and is seeking advice from individuals from the Ivy League schools who are giving bad advice. The bad advice is that government should stabilize...
Screw the Big Banks
Credit Crisis and Wall Street Meltdown.
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The Buyout of America: How Private Equity Will Cause the Next Great Credit Crisis
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Crisis in Credit System
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60 Minutes - Wall Street's Shadow Market (October 5, 2008)
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Credit and Credibility
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Credit Crisis Timeline
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- Double dip recession and the perverse math of GDP reporting
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- News from around the web: 2009-12-27
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- The week in review at Credit Writedowns: 2009-12-26
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- News from around the web: 2009-12-26
News from around the web: 2009-12-26 is a post from: Credit Writedowns News from around the web: 2009-12-26 is a post from: Credit Writedowns If you recall, I posted a link on Yemen four days ago asking if Yemen was the next Afghanistan. Given the recent terrorist attempt in the U.S., expect Yemen to become more important and the permanent war state in the U.S. to turn some [...] - 32 hours ago
- It’s a wonderful life
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- Financial News: 2009-12-24
Financial News: 2009-12-24 is a post from: Credit Writedowns Financial News: 2009-12-24 is a post from: Credit Writedowns oftwominds: "Monetary Policy" Transfers Your Children’s Future Earnings to the Financial Elite When the Changes Could Take Effect – WSJ.com Firms Warn of Cuts to Benefits – WSJ.com FT.com – Greek parliament approves budget cuts Economist’s View: Unemployment and Excess Capacity Banks That Bundled Bad Debt Also Bet [...] - 4 days ago
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How Do You Feel About Wall Street?
I agree, however I also believe that the ruling class pulls back in times of distress so we will see if we can turn away from fascism for a little while. Certainly the "war on terror", a phony war against people Bush allowed to attack WTC on 9/11, has to be scrapped.
Interesting hub - I guess it's the same everywhere. There are no parties in politics the world over today because there are no ideals - Mammon rules. I haven't read that book TMG but I would like to if I lay my hands on it.
If you were to go for a bird's eye view, the network of the Party of the Rich would encompass the world. Finally it really is all about the money, honey. And I doubt if any Robin Hood can fight it simply because it's grown too powerful!
Thanks for the comments. It is true that money rules these people. They are driven to their own destruction ultimately by greed. A cold shiver should accompany them when they think of what they have caused.
Shaline,
Robin Hood never could, that is why he is a Fairy Tale. I will give my copy to you if you would like.
TMG
The real robin hoods are those who walk away from their overpriced homes. They take from the rich and lower the house prices of the poor. :)
Truth. Great Hub!
So well said, I guess there are some modern day Robin Hoods.
TMG
Ha, they are great American heroes and don't even know it!
Wonderful and very informative article and you are so right. Know what i find amazing...Bush Jr, Mr. Big B_lls invaded Iraq. Eight years later we still in a war that we had no business in from the beginning. But now he lives with secret service out the wazoo and the last three attacks have been on Texas. Keep up the great work, I'll be reading.
Regards, christal
Thanks Christal for your support.
TheMoneyGuy says:
11 months ago
I see your upset,
But, you are only scratching at the truth, The Enron Screwing is far bigger than anyone will ever realize, as the system Kenny boy put in place still exists in 29 states yes and California is still one of them. So it goes to show you no one wants to fix the problem, because it makes the rich richer.
Read the Book Free lunch by David Cay Johnston. It gives a very good look at the fact that there is no such thing as Democrat or Republican only the party of the Rich. They use this false conflict to Rob us blind in away that would make the Sheriff of Nottingham blush. Only in this story we are all to chicken shit to step up and be Robin Hood.
TMG