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Showing posts with label CBS. Show all posts
Showing posts with label CBS. Show all posts

Tuesday, December 20, 2011

Cleveland Mayor Spanks Big Banks On Abandoned Foreclosures

JP Morgan Chase Big Banks Action
Image by SEIU International via Flickr


From Denny:  A crooked Congress and a delusional President continue to ignore the millions of foreclosed homes at their peril. America's Winter Revolution is about to erupt like a super volcano before the New Year has a chance to arrive.

Yes, Americans are that fed up at inequality, unemployment, under employment, unfairness, a police state mentality against peaceful protests and double standards for the law.

Mayors across the country are equally desperate about how to deal with the huge inventory of abandoned foreclosed homes getting vandalized.  The foreclosure scavenger thieves are quite sophisticated.  They check out the evictions of the foreclosed homes at the sheriff's department online and arrive the same afternoon to rip apart the house like a demolition team.

Aluminum and vinyl siding is ripped off since it goes for $1 a pound.  The same is true for electrical wiring, appliances and even the kitchen sink.  They take the plumbing, the furnace, all metal like copper and the light fixtures.  The houses are like a sad portrait of a hurricane disaster zone except this one is man made - and Big Bank made, if truth be told.

Tuesday, July 28, 2009

Video: Economic Worst Is Over?

English: Wall Street, Manhattan, New York, USA...
English: Wall Street, Manhattan, New York, USA EspaƱol: Wall Street, Manhattan, Nueva York, Estados Unidos (Photo credit: Wikipedia)
From Denny: The public wallet has yet to rally as fast as these big businesses. Unemployment is almost double digits, the economy is on life support propped up by bail outs which translates as coming from the wallets of the middle class who lost their jobs those same big businesses chose to send overseas. It isn't really very smart when a business takes jobs away from the very people who turn around and purchase their products, now is it? That's basically what has happened.

There is a significant need to get serious about regulating Wall Street and other robber baron big businesses in America. Until then, the average middle class investor will not trust them with their money. Until regulation is done, overseas investors won't have a healthy long-term confidence either.

Realistically, expect a correction in these rosy statistics.

"The stock market recently rallied to its best level all year, which is making investors hope that this could be a signal that the worst of the economic downturn is over. Karen Brown reports."


Watch CBS Videos Online - CBS is really dropping the ball here by no longer keeping video clip embed codes operating.


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United States, economy, news