Five years after the financial collapse precipitated by the Lehman Brothers bankruptcy on September 15, 2008, the risk of another full-blown financial panic is still looming large, despite the Dodd Frank legislation designed to contain it. As noted in a recent Reuters article, the risk has just moved into the shadows: Continue reading
By DEADLY CLEAR
We are Americans first, not Republicans, Democrats, Unions, Government Workers, Corporate Employees, Retirees – WE ARE AMERICANS!
WE Americans were scammed “big time” by Wall Street greed and elite wannabes.
Whether you are NYPD, Iowa, Detroit, Baltimore, Chicago, Florida, California, NJ, Washington, Maine or Oregon police (just to name a few), a fireman, teacher, government or corporate employee, FBI, CIA, Judge, prosecutor or clerk – your pension and retirement funds (FERS) were put at risk and are likely gone. Wake up. Continue reading
“Bloomberg Risk Takers” profiles Michael Burry, the former hedge-fund manager who predicted the housing market’s plunge. He forecast that the bubble would burst as early as 2007, and he acted on his conviction by betting against subprime mortgages. The former head of Scion Capital LLC was profiled in Bloomberg columnist and bestselling author Michael Lewis’ book “The Big Short”. http://www.bloomberg.com/video/72756316/
“Ironically, I’m in this book, ‘The Big Short,’ but I’m not a big short. I don’t go out looking for good shorts. I’m spending my time looking for good longs. I shorted mortgages because I had to. Every bit of logic I had led me to this trade and I had to do it. And I had to pull back on equities, because I saw what was coming I thought would affect everything.” Continue reading