Monthly Archives: July 2009

Culture of Wall Street

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University of Minnesota professor Karen Ho talks about how Wall Street is a culture full of prep school cronies that are so focused on profits and bonuses, that they have no long term monetary vision. Ho is the author of the upcoming book, Liquidated: An Ethnography of Wall Street. Based on three years of research immersed in Wall Street fieldwork, including working for a bank, she reveals the dominance of financial culture and how it has spread across America and set the stage for financial crises. This video is part of the Expert Perspectives series at the University of Minnesota.

FOLLOW THE MONEY! the Marxist Obama’s Shell Game to FINANCIALLY COLLAPSE AMERICA!

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TARP, which was 700 billion dollars, was not one lump sum of 700 billion dollars. It’s a revolving 700 billion. For example, they could lose 400 billion, but there’s still 700 billion there that they can use. So, it’s not really a 700 billion dollar fund. It’s whatever they want it to be. SCAM! The marxist Obama administration and the communist Democrat Congress are conducting a huge shell game in broad daylight! Where are the police? Why place of protection’t there been arrests and trials and punishments for these Constitution Law breakers? Why don’t you even know about it? Where is the media, the “watch dogs” of the regime? Thank God “honest and unafraid” Fox News is still watching AND still reporting. Thank God patriots like Glenn Beck speak daringly the truth to our fellow Americans! This is the most dire time in our nation’s small history. Will YOU let it be the end of our nation? YOU influence. GLENN BECK: “If you reflect the recent TARP repayments show the light at the end of the bailout tunnel, reflect again. FANNIE and FREDDIE now reportedly each, each, want 400 billion dollars, each, by year’s end, in the next 2 weeks. That’s 800 billion dollars to FREDDIE and FANNIE. Nearly a trillion dollars. Plus, the FDIC is nearly doubling their budget in anticipation of more bank failures next year. Wow, what do they know that our head isn’t telling us?” JOHN FUND: “We had a mountain of sub-fill in mortgage debt because we went on a housing binge. We had people buying homes with no down …

Underwater Mortgages: Why Do They Result in Foreclosure?

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mortgages

I read an condition on Yahoo! today about underwater mortgages — the situation you’re in when you owe more on your house than it’s worth. I don’t get why this leads to foreclosure. If you can meet the expense of to keep on paying your note every month, what difference does it make how much your home is really worth? Isn’t this the exact situation that everyone with a car loan is in? Your car is a depreciating asset — but nobody “calls in” your car loan just because it’s worth less than the day you bought it.