1. NY TIMES 6/4/13 WALL STREET BUYERS BEHIND THE RISE IN HOUSE PRICES: The last time the housing market peaked in Phoenix and Las Vegas, it was fueled by small investors, not this time. Wall Street firms are buying homes for their equity portfolios, investing billions of dollars in Real Estate . The Blackstone Group has purchased 26,000 homes, in 9 states, hit the hardest by the financial crisis. Nationwide , 68% of the” damaged ” homes have been purchased by investors pushing up the sale price for first time home buyers.
What happens to these homes, if ” The market corrects? ” An asset bubble, again? We have a choice: FINANCIAL REFORM.
2. Read in the NY Times 6/6/13 The SEC is deliberating on changing the rules on Money Market Funds, allowing the dollar to fluctuate rather then remaining fixed at a dollar of value. The Public has 3 months to comment on the proposed rule changes before A Formal Bill goes to the Senate. Money Market Funds are used to protect the small investor from market fluctuations, time to let your voices be heard? We have a choice .
3. NY TIMES 6/9/13 When lofty words from the President also led to swift action. In 1963, JFK was confronted with two realities; the Cold War and the moral obligation to enact Civil Right’s Legislation. Both speeches were eloquent, but more then that, they led to Congressional Action. Kennedy stated, A great change is at hand, and our task, our obligation , is to make that revolution, that change, peaceful and constructive for all. Those who do nothing are inviting shame as well as violence. Those who act boldly are recognizing right as well as reality.” ” This moral crisis cannot be met with repressive police action. It is a time to act in Congress, in your State and local legislative body and above all in our daily lives.”
We have problems today; rising unemployment, a need for a jobs program, food and proper medical assistance, a living wage, financial reform, immigration reform, legislation to ensure our Constitutional rights? Rhetoric is easy, when can we expect solutions to the Nation’s troubles? We have choices to make?
4. LOL. THE FINANCIAL TIMES 6/8/13. The UK has set up a commission , which includes the Arch Bishop of Canterbury , to determine rules for Bankers to live by! Under the heading, ” Bankers face 10 year delay on bonuses, ” the Commission’s report is expected to be uncompromising , with key sections on pay, professional standards and a new proposed sanction regime for miscreant’s. It is unclear whether these standards will be imposed on UK bankers only or any Banker doing business in the UK.