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alstry (35.42)

1.01.10 Benny B's Zombulation Policies Destroy America

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January 04, 2010 – Comments (2)

As Benny The B just bails out a few Wall Street Banks and lets the rest of the nation fail.........pretty soon the private economy implodes while revenues evaporate to such low levels it is unable to sustain the economy as we know it.

If you thought state budgets were in bad shape last year, just wait: 2010 promises to be brutal for lawmakers — many facing re-election — as they scramble to find enough money to keep their states running without raising taxes.

Tax collections continue to sputter. Federal stimulus dollars are about to dry up. Rainy day funds have been tapped. And demand for services — like Medicaid, food stamps and unemployment benefits — is soaring.

As lawmakers head back to state capitols this month, budget woes range "from bad to ridiculously bad," said David Wyss, chief economist at Standard & Poors in New York. "There are some states, those hit particularly hard by the recession, that I don't think can cut spending enough. They're running out of things to cut."

http://www.heraldtribune.com/article/20100104/BREAKING/100109982/-1/LIVING?Title=State-budget-pictures-bleak

EVAPORATING REVENUES WITH SKYROCKETING EXPENSES..........AND BENNY THE B IS TELLING YOU THE RECESSION IS OVER WHILE HIS BANKER BUDDIES ARE LAUGHING ALL THE WAY TO THE BANK DOING GOD'S WORK.

2 Comments – Post Your Own

#1) On January 04, 2010 at 6:01 PM, alstry (35.42) wrote:

1.01.10....IT BEGINS!!!!!

Property owners at four struggling and bankrupt resorts in Idaho, Montana, Nevada and the Bahamas have filed a $24 billion federal lawsuit against Credit Suisse Group, saying the banking giant gave predatory loans to the resorts' investors as part of a scheme to take over the properties.

Property owners at Idaho's Tamarack Resort, the Yellowstone Club in Montana, Nevada's Lake Las Vegas resort and the Ginn Sur Mer Resort in the Bahamas contend that Credit Suisse set up a branch in the Cayman Islands to skirt U.S. federal bank regulations and appraised the resorts at artificially inflated values as part of a plan to foreclose.

A spokesman for the Switzerland-based bank, Duncan King, said the lawsuit is without merit and the company will fight the claims.

The lawsuit, filed in Boise's U.S. District Court on Sunday, seeks class-action status. The property owners, L.J. Gibson and Beau Blixseth, say they are filing the lawsuit on behalf of the thousands of people who bought property and homes at the resorts.

Gibson lives at Lake Las Vegas home and owns property at Tamarack Resort and Ginn sur Mer. Blixseth, the son of Yellowstone Club creator Tim Blixseth, owns property at the Yellowstone Club.

WHEN YOU MAKE LOANS THAT YOU KNOW ARE BASED ON INFLATED VALUES.......THAT IS A BOO BOO....NOW IMAGINE TRILLIONS OF DOLLARS OF LOANS MADE THAT WAY TO UNSUSPECTING BUYERS.........COMPOUND THAT WHEN YOU KNOW THAT VALUES ARE GOING FALL AFTER YOU TIGHTEN YOUR CREDIT STANDARDS TO YOUR BORROWERS...BIG BIG BOO BOO

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#2) On January 04, 2010 at 6:13 PM, alstry (35.42) wrote:

Atlanta Lost 23,000 Constructions Jobs During 2009

Raleigh Cary / Triangle Area NC Shed 10,000 Construction Jobs

Millions of jobs were lost last year just in the construction and construction related segment...........

And conditions are getting much worse as we start 2010 and credit is tightening as bankers bask in their billions in bonuses.

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