Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. You can pull sub-categories from this feed by adding a ?tags=a,b,c,... style parameter. The category tags (which can be given as numbers or handles) are : id handle category description 1 housing_finance "Housing Finance News/ML-Implode Main" 2 hedge_funds "Hedge Funds News" 3 fed "The Fed, Central Banking and fin. reg." 4 foreclosures "Foreclosures (News)" 5 chavez "Hugo Chavez Watch (News)" 6 builders "Home Builders News" 7 banks "Banks News" 8 credit_bubble "Credit Bubble and Crash (News)" 9 peak_oil "Peak Oil and Energy Security (News)" 10 BRIC_v_us "BRIC countries vs. U.S. (News)" 11 gov_bk "Government Bankruptcy (News)" 12 mediawatch "Mainstream Media Watch" 13 Our commentary "IEHI Original Commentary" 14 rebalancing "Economic Rebalancing (News)" 15 pm "Precious Metals News" 16 inflation "Inflation and Deflation News" 17 nr "Natural Resources News" 18 consumer "Consumer Capitulation/Issues and Populism" 20 pe "Private Equity Implosion (News)" 21 recession "Recession/depression News" 22 ML_implosion "Mortgage Lender IMPLOSIONS" 23 HF_implosion "Hedge Fund IMPLOSIONS" 24 HB_implosion "Home Builder IMPLOSIONS" 25 Bank_implosion "Bank IMPLOSIONS" 26 ML_update "Mortgage Lender UPDATES" 27 HF_update "Hedge Fund UPDATES" 28 HB_update "Home Builder UPDATES" 29 Bank_update "Bank UPDATES" 30 RFWS "Radio Free Wall Street" 31 FHA "FHA and Mtg Regulation (News)" 32 martial_law "Martial Law/Big Brother/NWO Watch" 33 pension "Retirement Implosion (News)" 34 mtgindustry "Mortgage Industry (News)" 35 econlists "Econ insider lists" 36 iehi_fb "IEHI facebook feed" 37 robin_fb "robin facebook" 38 IEHItwitter "IEHI Twitter Feed" 39 ak_linkedin "akrowne LinkedIn (mtg industry)" en-us iehi-feed-64693 Tue, 23 Apr 2019 15:02:01 GMT Notorious Miami Con Man Gets 9 Years Of Clutching Soap In Prison http://implode-explode.com/viewnews/2019-04-23_NotoriousMiamiConManGets9YearsOfClutchingSoapInPrison.html iehi-feed-64692 Sun, 21 Apr 2019 13:35:35 GMT Same-Sex Couples Face Systematic Lending Discrimination http://implode-explode.com/viewnews/2019-04-21_SameSexCouplesFaceSystematicLendingDiscrimination.html iehi-feed-64691 Sat, 20 Apr 2019 16:18:38 GMT Motel 6 Leaves The Lights On For Sex Trafficking Of Drug Addicts http://implode-explode.com/viewnews/2019-04-20_Motel6LeavesTheLightsOnForSexTraffickingOfDrugAddicts.html iehi-feed-64690 Sat, 20 Apr 2019 02:07:57 GMT U.S. homebuilding near two-year low; permits extend decline http://implode-explode.com/viewnews/2019-04-19_UShomebuildingneartwoyearlowpermitsextenddecline.html The prolonged weakness in homebuilding is likely the result of land and labor shortages, as well as expensive building materials. A survey on Tuesday showed that though builders reported strong demand for new homes, they continued to highlight "affordability concerns stemming from a chronic shortage of construction workers and buildable lots."

These factors are constraining builders' ability to construct homes in the lower price segment of the market, which continues to experience a shortage of homes for sale. The housing market hit a soft patch last year, with investment in homebuilding contracting 0.3 percent, the weakest performance since 2010.

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iehi-feed-64689 Thu, 18 Apr 2019 21:17:45 GMT Seth Meyers Rants At Elites and Political Dysfunction (4/17/19) http://implode-explode.com/viewnews/2019-04-18_SethMeyersRantsAtElitesandPoliticalDysfunction41719.html iehi-feed-64688 Thu, 18 Apr 2019 14:23:19 GMT Turkey's economy is spiraling as Erdogan's AKP requests new election http://implode-explode.com/viewnews/2019-04-18_TurkeyseconomyisspiralingasErdogansAKPrequestsnewelection.html Erdogan has espoused keeping interest rates down despite rising inflation, currently at more than 19 percent. Investors fear he will continue to pursue populist monetary policy after his party's unprecedented defeat in the local elections.

But more than the election results themselves, it is the substance of an economic reform package that is needed to calm markets, experts say. That effort has so far not gone well.

Of note, an investor discussion with Turkish Finance Minister Berat Albayrak during the IMF Spring Meetings in Washington DC last week received decidedly negative reviews.

Investors described Turkish officials as unprepared and lacking details, and a J.P. Morgan survey carried out during the event revealed that more than 80% of investors did not have confidence in Ankara's ability to turn things around.

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iehi-feed-64687 Wed, 17 Apr 2019 23:22:23 GMT Dow, S&P 500 and Nasdaq near records but stock-market volumes are the lowest in months -- Here's why http://implode-explode.com/viewnews/2019-04-17_DowSP500andNasdaqnearrecordsbutstockmarketvolumesarethelowestinm.html the recent resurgence for stocks after a more than six-month, corrective hiatus has many market participants questioning its durability, as trading volumes remain near the lowest levels of 2019.

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Some make the case that the dearth in trading activity reflects a lack of participation in the market by a broad swath of investors.

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iehi-feed-64686 Wed, 17 Apr 2019 15:06:14 GMT Donald Trump is 'Fighting us on Everything,' Will Resist Congressional Subpoenas for Financial Information: Report http://implode-explode.com/viewnews/2019-04-17_DonaldTrumpisFightingusonEverythingWillResistCongressionalSubpoe.html President Donald Trump is reportedly doing all he can to resist efforts by House Democrats to obtain documents and information relating to their multiple ongoing investigations into his administration and business dealings.

According to The Washington Post, both Trump's personal attorneys and White House counsel Pat Cipollone are preparing the ground for a legal fight to block any subpoenas from the various House committees running investigations and will not turn anything over to Congress.

Trump is already not complying with information requests related to security clearances, meeting with foreign leaders, and other topics his team says are covered by executive privilege, the Post reported, citing aides familiar with White House discussions.

"They are fighting us on everything now, Representative Jamie Raskin, a Maryland Democrat, told the publication. "It's an assault on the separation of powers and specifically the congressional oversight function."

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The House Financial Services Committee is exploring the Trump family finances and his relationship in particular with Deutsche Bank, which, despite his checkered history with debt continued to lend him and his company money over the years.

The House Ways and Means Committee is trying to draw out Trump's tax returns from the IRS amid suspicions of fraud, denied by the president. And the House Foreign Affairs Committee is looking into Trump's business relationships abroad to see if they have had any influence on his presidency.

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For example, the oversight committee has requested from Mazars, Trump's personal accountant, 10 years of his financial documents. The judiciary committee recently hit 81 people with information requests related to Trump.

It's obvious now (if it wasn't before) that Trump is hiding something big.

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iehi-feed-64685 Wed, 17 Apr 2019 14:58:52 GMT Trump tax cuts: Most people didn't even notice http://implode-explode.com/viewnews/2019-04-17_TrumptaxcutsMostpeopledidntevennotice.html ``As Americans rush Monday to finish with their own tax filings, their judgment on Trump's beloved tax cut bill is pretty clear: Most really don't like it. Multiple polls show a majority of Americans don't think they got a tax cut at all -- even though independent analyses show they did. And only about a third of the country approves of the legislation itself, the Tax Cuts and Jobs Act, passed by Congress at the end of 2017.''

This is 100% what we expected; if you don't make tax cuts economically significant for most people, duh, they won't notice. It never mattered if peanuts were being thrown to the proles while large cuts were being given to the wealthy and major corporations. Why would it? You can stoke fake hysteria about immigrants and muslim terrorists all you want, and certain people will buy into that -- precisely because it's imaginary -- but you can't fake what's in people's wallets. Trump told his fans he'd make them "so rich", and that clearly didn't happen. Of course, one could only have believed that if one fell for the con of a seasoned con artist...

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iehi-feed-64684 Wed, 17 Apr 2019 12:04:01 GMT How New York Homeowners Are Scoring Free Houses During Foreclosure http://implode-explode.com/viewnews/2019-04-17_HowNewYorkHomeownersAreScoringFreeHousesDuringForeclosure.html iehi-feed-64683 Tue, 16 Apr 2019 12:26:03 GMT Michigan Man Sues Parents For $86,000 For Tossing Porn Collection http://implode-explode.com/viewnews/2019-04-16_MichiganManSuesParentsFor86000ForTossingPornCollection.html iehi-feed-64682 Mon, 15 Apr 2019 19:26:35 GMT Goldman Sachs slashes compensation for employees as revenue drops http://implode-explode.com/viewnews/2019-04-15_GoldmanSachsslashescompensationforemployeesasrevenuedrops.html Goldman posted first-quarter revenue that missed analysts' expectations, dropping 13% to $8.81 billion amid a tougher market for trading and investing.

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The bank cut compensation and benefits set aside for employees in the first quarter by 20% to $3.26 billion, or about $90,780 for each of the bank's 35,900 workers. A year ago, that figure was $119,323 for each of the bank's 34,000 workers.

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Compensation has been sliding on Wall Street ever since post-financial crisis rules crimped risk taking and as automation and electronic trading take over more flows from clients. Under CEO David Solomon, who took over in October, the firm is reevaluating all of its businesses and has already started to pull back resources from parts of underperforming areas like commodities trading. ''

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iehi-feed-64681 Mon, 15 Apr 2019 19:24:30 GMT German prosecutors charge former Volkswagen CEO Martin Winterkorn with fraud http://implode-explode.com/viewnews/2019-04-15_GermanprosecutorschargeformerVolkswagenCEOMartinWinterkornwithfr.html Prosecutors in the German city of Braunschweig said on Monday they were pressing criminal charges against former Volkswagen Chief Executive Martin Winterkorn in connection with the carmaker's manipulation of diesel emissions testing.

Four other executives are being charged, the prosecutors office said in a statement, without giving their names.

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Prosecutors said Winterkorn was accused of a particularly serious case of fraud, breach of trust and breaching competition laws because he had not acted -- despite having a special responsibility to do so as the company's CEO -- after it became clear on May 25, 2014, that diesel engines had been manipulated.

He neglected to inform authorities in Europe and the United States as well as customers of the illegal software and he also did not prevent the continued installation of such software, the prosecutors said.

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In a related case, the U.S. Securities and Exchange Commission (SEC) sued Winterkorn last month, saying U.S. investors were informed too late about the German automaker's diesel emissions scandal, alleging a "massive fraud".

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iehi-feed-64680 Fri, 12 Apr 2019 16:14:13 GMT Former Champion Porsche VP Indicted For Stealing $2.2 Million http://implode-explode.com/viewnews/2019-04-12_FormerChampionPorscheVPIndictedForStealing22Million.html iehi-feed-64679 Thu, 11 Apr 2019 22:18:31 GMT Fed minutes show re-starting QE purchases already on the table http://implode-explode.com/viewnews/2019-04-11_FedminutesshowrestartingQEpurchasesalreadyonthetable.html The minutes revealed a debate inside the Fed about when the bank should resume purchases of Treasurys after it ends it balance-sheet runoff... Several wanted to resume purchases "relatively soon," the minutes showed, but "some" preferred to let the average level of reserves decline naturally for awhile in the hopes that it would give the Fed a sense of underlying demand by banks.

The outcome of such a debate, though arcane, is important. Some outside critics contend the Fed balance-sheet process contributed to the stock-market meltdown in December. Senior Fed officials want to make sure whatever they do reduces instability in the U.S. financial system.

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iehi-feed-64678 Thu, 11 Apr 2019 22:10:49 GMT Newmont shareholders back $10-billion Goldcorp takeover http://implode-explode.com/viewnews/2019-04-11_Newmontshareholdersback10billionGoldcorptakeover.html Newmont Mining Corp. shareholders have voted resoundingly in favour of the company's US$10-billion acquisition of Vancouver's Goldcorp Inc., removing the last major obstacle to what will likely be the second-biggest deal ever in the gold sector.

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The deal is expected to close later this quarter and means Newmont will bypass Barrick Gold Corp. and take the triple crown as biggest gold company in the world by market value, production and reserves.

The deal announced in January was eventful from the start. About a month after it was announced, Barrick made a hostile takeover bid for Newmont and urged Newmont to drop its quest for Goldcorp. Even later, when Barrick dropped its effort to acquire Newmont, more uncertainty arose when Goldcorp announced it had agreed to almost triple the retirement package of Ian Telfer, its chairman, to US$12-million. The payout angered some shareholders at Goldcorp, especially considering Mr. Telfer agreed to sell the company with its stock near a historical low.

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Much of the drama evaporated when Newmont sweetened the pot by agreeing to pay a special dividend to its shareholders worth US$470-million if a yes vote was achieved. That dividend will now be paid out on May 1 to people who hold shares as of April 17.

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iehi-feed-64677 Thu, 11 Apr 2019 14:52:53 GMT Trump Says U.S. Is Full, but Demographic Decline Is Real Threat http://implode-explode.com/viewnews/2019-04-11_TrumpSaysUSIsFullbutDemographicDeclineIsRealThreat.html iehi-feed-64676 Thu, 11 Apr 2019 13:13:42 GMT HGTV Star Nicole Curtis Facing Foreclosure On Two Houses http://implode-explode.com/viewnews/2019-04-11_HGTVStarNicoleCurtisFacingForeclosureOnTwoHouses.html iehi-feed-64675 Thu, 11 Apr 2019 04:28:12 GMT Retiring as a Judge, Trump's Sister Ends Court Inquiry Into Her Role in Clan's Tax Dodges http://implode-explode.com/viewnews/2019-04-11_RetiringasaJudgeTrumpsSisterEndsCourtInquiryIntoHerRoleinClansTa.html President Trump's older sister, Maryanne Trump Barry, has retired as a federal appellate judge, ending an investigation into whether she violated judicial conduct rules by participating in fraudulent tax schemes with her siblings.

The court inquiry stemmed from complaints filed last October, after an investigation by The New York Times found that the Trumps had engaged in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the inherited wealth of Mr. Trump and his siblings. Judge Barry not only benefited financially from most of those tax schemes, The Times found; she was also in a position to influence the actions taken by her family.

Judge Barry, now 82, has not heard cases in more than two years but was still listed as an inactive senior judge, one step short of full retirement. In a letter dated Feb. 1, a court official notified the four individuals who had filed the complaints that the investigation was "receiving the full attention" of a judicial conduct council. Ten days later, Judge Barry filed her retirement papers.

Nothing to see here...

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iehi-feed-64674 Wed, 10 Apr 2019 22:23:18 GMT ‘Retail apocalypse' now: Analysts say 75,000 more U.S. stores could be doomed by 2026 http://implode-explode.com/viewnews/2019-04-10_RetailapocalypsenowAnalystssay75000moreUSstorescouldbedoomedby20.html