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alstry (36.06)

House For Free and MORE!!!!

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October 25, 2009 – Comments (6)

IT'S OFFICIAL:

Capmark Files for Bankruptcy After Posting Quarterly Loss of $1.6 Billion

Who woulda thunk...7 Banks and a Major Financial Company in one weekend.....yet $2 Trillion dollars of deficit spending can yield this:

Big gain in GDP would show end of deep recession

UNFORTUNATELY.....HOUSES FOR FREE AND NO TAKERS....

Where you almost can't give away a house

And don't think it is just Detroit.  Take a drive along A1A Gold Coast in Florida and see how much beachfront property is for "sale" and no takers.  I just had a conversation with a buddy of mine, you know the type, when he goes fishing he takes a plane and the fish weigh HUNDREDS of pounds.....further, when lining up the boats, he makes sure to charter enough boats to have one just for provisions...and its not just beer if you know what I mean.

Based on a number of conversations, it is evident there are a number of above million dollar homes in Florida where the owner has not made a mortgage payment or tax payment in over a year.....and no notice of foreclosure has been sent by the bank.  Over a year and NO FORCLOSURE NOTICE....and it is not just one or two homes...it is a bunch....in very very very very nice areas.  The kind of homes you see on magazine covers.

These homes belong to guys who where were real estate agents, contractors, builders, small business owners...you know, the guys that were making millions per year and are now not making a dime.  No taxes being paid and much less being spent...with little or nothing on their houses.

No wonder more women are working today than men:

The Real Reason That - For the First Time Ever - More Women are Working Than Men

For the first time ever, there are as many women in the workforce as men. Do you know why?

SURE THERE IS A RECOVERY...JUST LIKE THERE IS THE TOOTH FAIRY...

Who can't generate a few clunker and cheap home sales sales printing $2 Trillion dollars and handing it out like candy??????

If you think the world is going to let this go on for much longer....you really must believe in the Tooth Fairy..............

MINNEAPOLIS – Until the Bernard Madoff scandal broke, it was a Minnesota businessman who stood accused of orchestrating the largest Ponzi scheme authorities could ever recall.

Tom Petters, 52, who seemed to have a golden touch as he built a small merchandise liquidation company into a diversified empire that owned well-known businesses such as Polaroid, goes on trial this week. The size of his alleged fraud: $3.65 billion.

Petters' world began to unravel a year ago when his trusted lieutenant, Deanna Coleman, walked into the U.S. attorney's office with what prosecutors called a "staggering" allegation.

Coleman said for more than 10 years she had helped Petters run a multibillion dollar Ponzi scheme. She said they fabricated documents to trick investors into loaning money that Petters would claim to use to buy TVs and other electronic goods that he would purport to resell to big retailers like Costco and Sam's Club. Those goods never existed, prosecutors claim, saying most of the money really went to finance Petters' lifestyle and to pay off other investors.

http://news.yahoo.com/s/ap/20091025/ap_on_bi_ge/us_petters_trial

THE GOODS EXISTED...POLOROID WAS A BRAND SOLD IN TARGET AND OTHER BOXES...It is just that they didn't exist as represented....you think that is any different than a public homebuilder that borrows billions and capitalizes interest and represents charges are one time and repeats them quarter after quarter after quarter destroying shareholder and bondholder value along the way as executives and board members draw HUGE compensation?????

Hmmmmmm.

What about paying off Pension Funds managers to buy toxic debt and watching those managers flee before anyone really ever knows what happened????

What about printing Trillions of dollars of counterfeit money and paying yourself as a politician with money that really doesn't exist and surrounding yourself with staff and private planes that would make any overpaid executive proud.....all while taxing your constituents thorugh the gills as you devalue their savings???

Pension Funds, U.S Currency/Economy...Public Company Equtiy and Debt...Bernie Madoff...Tom Petters....are they all simply one BIG Alstry Sized Ponzi Scheme about to Unravel in front of our eyes......or will something pop up to distract us from this mess?????????????????????/

11.10.9..............................

6 Comments – Post Your Own

#1) On October 25, 2009 at 6:49 PM, alstry (36.06) wrote:

Here are some better links...sorry:

http://www.zerohedge.com/article/real-reason-first-time-ever-more-women-are-working-men

http://www.marketwatch.com/story/big-gain-in-gdp-would-show-end-of-deep-recession-2009-10-25

BREAKING....Capmark Financial files for bankruptcy: reports

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#2) On October 25, 2009 at 7:10 PM, ResearchLover (20.20) wrote:

10.26.09 The end is here!

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#3) On October 25, 2009 at 7:59 PM, alstry (36.06) wrote:

Not the end...a prelude to the BEGINNING...for those that make it...

SALES DOWN 70%!!!!!!!!!!!!!!!!!!!!!!!!

German industrial conglomerate Siemens AG is planning job cuts "in some business areas or at some locations," its CEO was quoted as telling weekly Welt an Sonntag on Sunday.

Siemens CEO Peter Loescher said that because of the financial crisis, "some parts of our business areas have had a decline of orders by up to 70 percent."

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#4) On October 25, 2009 at 8:29 PM, alstry (36.06) wrote:

PRIME NYC OFFICE BUILDING 66% OFF!!!!!

Oct. 23 (Bloomberg) -- Real estate investor Peter Duncan, who negotiated the nation’s biggest property deal of the year in buying Manhattan’s Worldwide Plaza, is now in charge of a skyscraper that’s 40 percent empty.

The Italian marble south lobby of Worldwide Plaza, the gateway to 14 vacant floors, is quiet. It’s one reason Duncan, president of George Comfort & Sons Inc., was able to buy the 49- story building in July for $590 million, two years after it sold for almost three times as much.

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#5) On October 25, 2009 at 9:56 PM, alstry (36.06) wrote:

New Jersey Pays Goldman Sachs for Interest-Rate Swaps on Nonexistent Bonds

Oct. 23 (Bloomberg) -- New Jersey taxpayers are sending almost $1 million a month to a partnership run by Goldman Sachs Group Inc. for protection against rising interest costs on bonds that the state redeemed more than a year ago.

The most-densely populated U.S. state is making the payments under an agreement made during the administration of former Governor James E. McGreevey in 2003, when New Jersey’s Transportation Trust Fund Authority sold $345 million in auction-rate bonds whose yields fluctuated with short-term interest costs. The agency finances road and rail projects.

“This vividly shows the risk of entering into interest- rate swap agreements,” said Christopher Taylor, former executive director of the Municipal Securities Rulemaking Board in Alexandria, Virginia. “The world’s got to see what stupidity even the sophisticated investors like the transportation fund can get into.”

Hmmmmmmmmmmmmmm.

$1 Million per month???  Who do you politicians represent???

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#6) On October 25, 2009 at 10:00 PM, checklist34 (99.72) wrote:

one of those links raised a great point, a comment from an army lieutenant: 

why don't potential dwellers, people who actually want to live in the properties, get priority over speculators in property auctions?  that, frankly, makes a ton of sense.

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