from Wall Street On Parade:
Editor’s Note: Richard Bowen is the former Citigroup Senior Vice President who repeatedly alerted his superiors in writing that potential mortgage fraud was taking place in his division. At one point, Bowen emailed a detailed description of the problem to top senior management, including Robert Rubin, the former U.S. […]
by Mish Shedlock, Mish Talk:
Bloomberg writer Danielle DiMartino Booth says the Pension Crisis Too Big for Markets to Ignore.
But I have a question: If the problem is too big to be ignored, why is nearly everyone complacent?
Only a handful of sites including MishTalk, ZeroHedge, and Jack Dean at Pension Tsunami […]
by Wolf Richter, Wolf Street:
Ballooning Condo Glut ensnares preconstruction speculators.
Miami-Dade’s spectacular condo flipping mania is in turmoil, with sales plunging, inventory-for-sale soaring, and new supply flooding the market. It’s not like Miami hasn’t been through this before.
In February, existing home sales of all types fell 10% year-over-year, to 1,835 homes. These […]