Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-61917 Mon, 20 Mar 2017 11:48:28 GMT Is Simon Property Group In Trouble Over An Alleged Insurance Fraud Scheme? http://implode-explode.com/viewnews/2017-03-20_IsSimonPropertyGroupInTroubleOverAnAllegedInsuranceFraudScheme.html iehi-feed-61871 Sat, 11 Mar 2017 20:15:17 GMT Trump Fires Preet Bharara http://implode-explode.com/viewnews/2017-03-11_TrumpFiresPreetBharara.html iehi-feed-61844 Tue, 07 Mar 2017 04:41:12 GMT Trump Wants To Slap New Yorkers With A $18.5+ Billion Stealth Tax Increase http://implode-explode.com/viewnews/2017-03-06_TrumpWantsToSlapNewYorkersWithA185BillionStealthTaxIncrease.html iehi-feed-61761 Fri, 24 Feb 2017 23:40:44 GMT In sweeping move, Trump puts regulation monitors in U.S. agencies (IT WON'T WORK) http://implode-explode.com/viewnews/2017-02-24_InsweepingmoveTrumpputsregulationmonitorsinUSagenciesITWONTWORK.html President Donald Trump signed an executive order on Friday to place "regulatory reform" task forces and officers within federal agencies in what may be the most far reaching effort to pare back U.S. red tape in recent decades.

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The sweeping order directs every federal agency to establish a task force to ensure each has a team to research all regulations and take aim at those deemed burdensome to the U.S. economy and designate regulatory reform officers within 60 days and must report on the progress within 90 days.

"Excessive regulation is killing jobs, driving companies out of our country like never before," Trump said before signing the order. "Every regulation should have to pass a simple test; does it make life better or safer for American workers or consumers?"''

We like the spirit behind this, and think it's a good idea to have a dedicated officer within each agency who is independent and is focusing on regulatory efficiency (kind of like the inspectors general system). However, Trump's remarks shows he doesn't really understand what the problem is -- the issue isn't that we aren't already taking enough time to weigh new regulations, get feedback from all sides, and weigh the pro's and con's (we already do this -- agonizingly-so): the real problem is that there's no compulsory force to cut through all the opposing interests and impose the optimal outcome based on the benefit to the general public (or whoever the intended stakeholders are). Instead, the preferences of the most powerful/vocal lobbies (or secondarily, the agency staff themselves) dominate. It isn't clear how yet ANOTHER monitor (we already have the GAO and CBO and CRS) is going to "right" the system. Generally, these oversight agencies already do amazing work -- it's just that "no one listens to them" (i.e., they have no power over the political process).

Thus, we don't expect this to work: while it might help in some cases for a while by adding some useful information to the public debate over particular regulations, it will likely just become another politicized facility that will become integrated into the DC sausage factory. Remember, the laws are being mandated by Congress in the first place, and the President can't simply refuse to implement them -- even if someone's analysis shows there's overall more cost than benefit.

To really make any meaningful, sustainable progress on this front, you'd need a law that puts enforcement behind the cost-benefit analysis of all future laws, and regulations implementing them; i.e., regulations can only be implemented if they can be done at a net benefit, and laws can only go into effect if their regulations can be implemented thusly (and this would be reviewed periodically over time, since you can't always tell from the outset). In essence, give the GAO's (and other oversight organizations) analyses some actual TEETH.

So, unfortunately, this just demonstrates another case where it is clear that Trump's people simply don't know how things already work, and what's already in place. You have to know what, in specific, is broken, to fix it. Oh, and you might have to actually work with Congress to get them to surrender some of their arbitrary power...

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iehi-feed-61709 Thu, 16 Feb 2017 20:49:44 GMT Explaining Foreclosure To Your Kids http://implode-explode.com/viewnews/2017-02-16_ExplainingForeclosureToYourKids.html iehi-feed-61637 Sat, 04 Feb 2017 03:43:12 GMT Treasury Secretary Nominee Steve Mnuchin Faces Heat In Attack Ad http://implode-explode.com/viewnews/2017-02-03_TreasurySecretaryNomineeSteveMnuchinFacesHeatInAttackAd.html iehi-feed-61629 Fri, 03 Feb 2017 17:47:44 GMT CFPB fines MasterCard and Hip-Hop Mogul Russell Simmons http://implode-explode.com/viewnews/2017-02-03_CFPBfinesMasterCardandHipHopMogulRussellSimmons.html iehi-feed-61625 Fri, 03 Feb 2017 15:16:47 GMT Steve Mnuchin Pocketed Millions From Bernie Madoff Ponzi Scheme http://implode-explode.com/viewnews/2017-02-03_SteveMnuchinPocketedMillionsFromBernieMadoffPonziScheme.html iehi-feed-61621 Thu, 02 Feb 2017 20:13:00 GMT Is President Trump Giving Bernie Madoff A Full Pardon? http://implode-explode.com/viewnews/2017-02-02_IsPresidentTrumpGivingBernieMadoffAFullPardon.html iehi-feed-61618 Thu, 02 Feb 2017 17:36:52 GMT GOP-Led U.S. Senate Confirms Unqualified Ben Carson As Secretary Of HUD http://implode-explode.com/viewnews/2017-02-02_GOPLedUSSenateConfirmsUnqualifiedBenCarsonAsSecretaryOfHUD.html iehi-feed-61579 Fri, 27 Jan 2017 21:49:23 GMT What Trump Treasury Secretary Nominee Steve Mnuchin Isn't Saying http://implode-explode.com/viewnews/2017-01-27_WhatTrumpTreasurySecretaryNomineeSteveMnuchinIsntSaying.html iehi-feed-61578 Fri, 27 Jan 2017 18:47:50 GMT Ex-Quicken Loans Executive Stabs Wife To Death http://implode-explode.com/viewnews/2017-01-27_ExQuickenLoansExecutiveStabsWifeToDeath.html iehi-feed-61561 Wed, 25 Jan 2017 17:56:14 GMT Stop the Madness. Stop Sheriff David Clarke from Serving in the U.S. Senate | Mandelman Matters http://implode-explode.com/viewnews/2017-01-25_StoptheMadnessStopSheriffDavidClarkefromServingintheUSSenateMand.html The point is that Black Lives Matter, Hillary Clinton and the religion of Islam are now being used to galvanize support for racist politics...

Generally speaking, populist leaders get elected by telling the people what they want to hear, with little or no no concern as to whether their promises are possible or not. In most cases, their policies include fiscal stimulus, printing more money, and expanding the deficit, which emphasizes growth over the risks of inflation and deficit spending.

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Populism always reduces very complex topics to simplistic ideas... like the idea that building a wall along the U.S. -- Mexico border will prevent illegal immigration into this country, or that our trade imbalance is the result of negotiating "bad deals."

The real answers to today's economic problems revolve around improving education and access to higher education, and fixing health care so it stops costing Americans as much each month as a mortgage on a $300,000 home. Cutting the funding to the National Endowment for the Arts or to Planned Parenthood won't accomplish anything positive for anyone, nor will building a wall along the border with Mexico or renegotiating NAFTA, whatever that even means.

We would add that fixing the monetary and banking mal-design is core to the true solutions as well (in fact, we'd put it first in the list).

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iehi-feed-61532 Sat, 21 Jan 2017 17:37:25 GMT The difference between Betsy DeVos and Past Education Secretaries | Mandelman Matters http://implode-explode.com/viewnews/2017-01-21_ThedifferencebetweenBetsyDeVosandPastEducationSecretariesMandelm.html iehi-feed-61526 Fri, 20 Jan 2017 23:04:23 GMT Now we care about how Steve Mnuchin at OneWest Bank handled foreclosures? | Mandelman Matters http://implode-explode.com/viewnews/2017-01-20_NowwecareabouthowSteveMnuchinatOneWestBankhandledforeclosuresMan.html iehi-feed-61416 Thu, 05 Jan 2017 14:40:34 GMT So, this is what actually happened on Monday in Washington. | Mandelman Matters http://implode-explode.com/viewnews/2017-01-05_SothisiswhatactuallyhappenedonMondayinWashingtonMandelmanMatters.html I don't care which side of the aisle you're on, what the House Republicans did here clearly shows the dangerous level of hubris that's shared among House Republicans now that they feel like they alone are running the show.  

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I'm sure "tons" of constituents were "upset," at the very least. After all, a secret ballot cast in the middle of the night on a holiday weekend by the members of only one party alone is the sort of thing I'd expect to hear that "comrades" were involved in, not congressmen.

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House Republicans managed to transform what could have been perhaps the easiest or even best day for congress in over a century, and turn it into something so ugly and humiliating that it's hard to imagine how they could have done any worse.

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A few hours and the whole thing was over... with the independence of the Office of Congressional Ethics intact. If you'd forgotten who truly runs this country, I hope this reminded you. The power is ours, if we want it, not theirs. It always has been, whether we've always realized it or not... And I'm proud of President-elect Donald Trump for taking a stand in opposition to the House Republicans and for showing the country that he is capable of thinking like US and about US.

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iehi-feed-61360 Thu, 22 Dec 2016 10:34:56 GMT It's the END OF HAMP... And the Beginning of a New Era in Loan Modifications | Mandelman Matters http://implode-explode.com/viewnews/2016-12-22_ItstheENDOFHAMPAndtheBeginningofaNewErainLoanModificationsMandel.html HAMP is ending this year, as of December 31st, it will be history.

What won't be history, unfortunately, are the foreclosures that we've been trying to prevent since 2008.  Sure, the numbers of new foreclosure filings have fallen as compared with the numbers reported in 2009 or 2010, but that doesn't mean the foreclosure crisis is over... Looking at RealtyTrac's foreclosure chart for 2016, it appears that we still had almost a million foreclosures this past year. Yeah, it's not two million or four million, but it's still a million, which works out to 2740 a day, 365 days a year... and seems like too many at least to me.

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The good news, however, is that the end of HAMP does not necessarily mean the end of loan modifications. Last week, Fannie Mae and Freddie Mac announced a HAMP replacement called the "Flex Modification" program, which Fannie says, "leverages components" of HAMP with those of Fannie's "Streamlined Modifications."

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iehi-feed-61321 Thu, 15 Dec 2016 00:16:40 GMT St. George Bank Gave Man $2 Million For Booze, Drugs And Prostitutes http://implode-explode.com/viewnews/2016-12-14_StGeorgeBankGaveMan2MillionForBoozeDrugsAndProstitutes.html iehi-feed-61293 Mon, 12 Dec 2016 03:12:06 GMT NACA And CRA Housing Agencies Shafted Homeowners http://implode-explode.com/viewnews/2016-12-11_NACAAndCRAHousingAgenciesShaftedHomeowners.html iehi-feed-61252 Tue, 06 Dec 2016 23:33:32 GMT The Deepening Deep State - KUNSTLER http://implode-explode.com/viewnews/2016-12-06_TheDeepeningDeepStateKUNSTLER.html A little paranoia about the growing fascist behavior of the US government is a useful corrective to trends that citizens ought to be concerned about -- for instance, the militarization of police; the outrageous "civil forfeiture" scam that allows police to steal citizens cash and property without any due process of law; the preferential application of law as seen in the handling of the Clinton Foundation activities and the misconduct of banking executives; the attempt to impose a "cashless society" that would herd all citizens into a financial surveillance hub and eliminate their economic liberty.

These matters are especially crucial as the nation stumbles into the next financial crisis and the Deep State becomes desperate to harvest every nickel it can to rescue itself plus the cast of "systemically important" (Too-Big-To-Fail) banks and related institutions like Fannie Mae and Freddie Mac, which are about to once again be left holding colossal bags of worthless non-performing mortgages, not to mention the pension funds and insurance companies that will also founder in the Great Unwind that is likely to commence as Trump hangs his golden logo over the White House portico.

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