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alstry (36.24)

AS AMERICA GOES BROKE....

Recs

14

September 02, 2009 – Comments (4)

WHILE OUR CITIES, COUNTIES, STATES, SCHOOLS AND HOSPITALS ARE SUFFOCATING FOR CASH........

NEW YORK (Reuters) - As shares of bailed-out banks bottomed out earlier this year, stock options were awarded to their top executives, setting them up for millions of dollars in profit as prices rebounded, according to a report released on Wednesday.

The top five executives at 10 financial institutions that took some of the biggest taxpayer bailouts have seen a combined increase in the value of their stock options of nearly $90 million, the report by the Washington-based Institute for Policy Studies said.

"Not only are these executives not hurting very much from the crisis, but they might get big windfalls because of the surge in the value of some of their shares," said Sarah Anderson, lead author of the report, "America's Bailout Barons," the 16th in an annual series on executive excess.

When a nation only unilaterally enforces contracts against its citzens.......the nation shuts down and the bankers own the nation.

Welcome to the 9.09 America......

4 Comments – Post Your Own

#1) On September 02, 2009 at 12:27 PM, alstry (36.24) wrote:

The 119,874 consumer bankruptcy filings in August represented a 24 percent increase over last year’s monthly total, according to the American Bankruptcy Institute (ABI), relying on data from the National Bankruptcy Research Center (NBKRC). Although an increase over the previous year, the August 2009 consumer filings represented a 5 percent decrease from the July 2009 total of 126,434. Chapter 13 filings constituted 28.3 percent of all consumer cases in August, unchanged from the July rate.

"Consumers are continuing to turn to bankruptcy as a shield from the sustained financial pressures of today’s economy," said ABI Executive Director Samuel J. Gerdano. "As a result, we expect consumer filings to top 1.4 million this year."

From Cal Risk.

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#2) On September 02, 2009 at 12:42 PM, alstry (36.24) wrote:

A Pattern of Weakness...yet we are told the recession is over?

Owners of all sorts of big chunks of real estate are suffering in the economic downturn, too. Example: One major slice of Lake Forest’s retooling of its El Toro Road shopping district has be rocketed by tough economic times, according to one credit-rating agency.

Fitch Ratings — in a report tracking the soundness of a big pool of mortgages that owns this property’s loan — expects a delinquency on the mortgage on the Orchard at Saddleback, a three-year-old shopping center between Rockfiled Blvd and Raymond Way. (See pictures above; click to enlarge!) Why the problems? Key tenants have been lost and other merchants seek rent relief in a harsh retailing environment.

Fitch writes that among other challenges, Orchard lost Shoe Pavillion — its third biggest tenant — to a bankruptcy liquidation and “one additional tenant filed for bankruptcy and two tenants have defaulted on their leases. Additionally, nine tenants requested rent reduction ranges of up to 50%”

Gregg Katz of Fitch said Orchard’s troubles, “fit a pattern of weakness in retailing” and that the Orchard mortgage has been transferred to a “special servicer,” a lender specialist who has legal powers to deal with troubled mortgages.

http://lansner.freedomblogging.com/2009/09/02/shopping-center-delinquency/35209/

It's 9.09...how are we going to service $40 Trillion dollars of debt and revenues are evaporating?

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#3) On September 02, 2009 at 1:05 PM, alstry (36.24) wrote:

ILLEGAL TO HELP THE HOMELESS????

Sacramento police this morning were citing and moving homeless people from a downtown lot where a Sacramento attorney has allowed them to camp.

About 30 people have been living at a makeshift homeless camp on a vacant lot on C Street between 12th and 13th streets, even as police warned that they are breaking the law.

"The individuals out here have been contacted multiple times in the past two weeks and they have been informed they are in violation of the Sacramento city camping ordinance," said Sacramento police spokeswoman Laura Peck. "We are out here citing those folks."

Peck said police are hopeful the homeless will gather their belongings and leave. Police are offering containers to the homeless to help gather up belongings.

About a dozen homeless people were on the site when police arrive, but police counted 33 tents on the lot.

Sacramento attorney Mark Merin has been leasing the land to a group of advocates who want the city to establish a legal "safe ground" where homeless people can sleep without police interference.

http://www.sacbee.com/topstories/story/2155700.html

When you cut off credit to an economy that is been credit dependent......the economy shuts down.  $40 Trillion dollars of debt and revenues are evaporating???

9.09 is here as we reward the bankers for writing trillions of bad loans???

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#4) On September 02, 2009 at 2:48 PM, alstry (36.24) wrote:

RECESSION IS OVER? 

A "poor" jobs market, evaporated wealth from decimated home and stock values, hard-to-get credit and wages that aren't supposed to advance sharply anytime soon mean consumers are still facing "considerable headwinds," the minutes said. How consumers behave is crucial to the recovery because their spending accounts for roughly 70 percent of all economic activity.

"With these forces restraining spending, and with labor income likely to remain soft, (Fed) participants generally expected no more than moderate growth in consumer spending going forward," the Fed minutes stated.

Unemployment -- now at 9.4 percent and expected to top 10 percent this year-- is the biggest burden facing American consumers. Another source of uncertainty: the extent to which consumers will sock more money into savings, the Fed said.

To entice consumers to spend more, the Fed last month also left a key interest rate at a record low of near zero. It pledged to hold that bank lending rate at between zero and 0.25 percent for an "extended period." Economists predict that means through the rest of this year.

http://finance.yahoo.com/news/Fed-minutes-officials-saw-apf-2028717293.html?x=0&sec=topStories&pos=main&asset=&ccode=

ARE CONSUMERS BORROWING AT 1/4%????????

Who is kidding who....the consumer is dead!!!!!!!!!

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