A couple of minor technical problems called “business” and “life” have now intruded on my increasingly bogged down publication schedule that, in the interest...
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Posts Tagged ‘ American Taxpayer ’
FHA Sub Prime Defaults at 9% in California
The American taxpayer is about to be saddled with another multi-billions bail-out of sub-prime mortgage loan losses from the stealth Federal Housing Authority (FHA) lending program that has been offering ultra-low 3.5% down payments since 2009. Delinquency rates are already at 9% in California and expanding rapidly across the United States. Sub-prime lending drove...
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If the FED can secretly Loan out 7.7 Trillion Dollars
As Jon Stewart points out and HT has alluded to, the FED secretly loaned out 7.7 TRILLION dollars around the time that they also publicly loaned out almost a Trillion in TARP money.
http://www.hulu.com/watch/306290/the-daily-show-with-jon-stewart-thu-...
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Wall Street versus Elizabeth Warren
Karl Rove’s Crossroads GPS group has launched the first attack ad against Elizabeth Warren, presumably because she is now running hard for the Senate in Massachusetts. This ad is not a big surprise, but the line that Mr. Rove takes could well bac...
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The Biggest Heist in History: U.S. Taxpayers Could Be On the Hook for Iraq’s Missing Billions
For nearly a decade, U.S. military operations in the Middle East - Iraq in particular - have been criticized as a cumbersome and costly burden on the American taxpayer.
That accusation gained new credence this week when the Pentagon finally acknowledged that nearly $7 billion of Iraqi oil money...
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It’s The DEBT, Dummy
The austerity and debt reduction storyline being sold by the MSM is a crock. The total amount of mortgage debt outstanding peaked at $14.6 trillion in 2008. The total amount of consumer debt (credit cards, auto loans, student, boats) outstanding pea...
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Hey! Where’s My $10 Billion! Professional Edition Fed Report
That question arose from the fact that that amount disappeared from the Fed’s balance sheet last week in the line items covering loans to and equity investments in the broken AIG. The Fed’s balance sheet as it pertains to custodial accounts for FCBs also makes clear why the Fed was forced to announce yesterday...
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The Costs of War
Military responses to problems have a way of creating all sorts of new problems. The tenth anniversary of the 9/11 tragedy offers an opportunity to reflect on the costs and benefits of the wars the United States initiated against Iraq and Afghanista...
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