Implode-Explode Heavy Industries news feed

Ditech Holding Corporation Continues To Dodge Creditors

Mon, 21 Jan 2019 16:09:28 GMT

Ditech Holding Corporation Continues To Dodge Creditors After Emerging Bankruptcy And Sacking COO

TV Host Chris Hansen Is Now The One Being Hunted

Sun, 20 Jan 2019 02:24:07 GMT

Creditors Are Hunting "To Catch A Predator" Host Chris Hansen For Millions Of Dollars Of Unpaid Debt!

Metropolitan Property Group Accused of Illegal Airbnb Rentals

Thu, 17 Jan 2019 17:59:11 GMT

New York City Claims Metropolitan Property Group Made $21 Million Through Illegal Airbnb Rentals

Bridgewater's Ray Dalio: Capitalism is not working for most people

Wed, 16 Jan 2019 22:12:01 GMT

"We're in a situation when the economy is at a peak, we still have this very big tension. That's where we are today," he said in November. "We're in a situation where, if you have a downturn, and we will have a downturn, I believe that -- I worry that that polarity will become greater."
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"If I was doing it, I think that you have to call that a national emergency," said Dalio. Then, reasoned Dalio, the President could "[take] responsibility for changing those metrics. I think there's a lot that can be done in private-public partnerships and so on to be able to change it, but I fear that that probably will not be done by the next time we have a downturn, and I fear for what that conflict is going to be like that."

Chris Hansen Of To Catch A Predator Fame Busted Bouncing Checks

Wed, 16 Jan 2019 20:29:09 GMT

Chris Hansen The Former Host Of "To Catch a Predator" Chris Busted Bouncing Two Checks For $13,000 In Connecticut

Shutdown's Economic Damage Starts to Pile Up, Threatening an End to Growth

Wed, 16 Jan 2019 14:28:43 GMT

``Mr. Hassett said on Tuesday that the administration now calculates that the shutdown reduces quarterly economic growth by 0.13 percentage points for every week that it lasts -- the cumulative effect of lost work from contractors and furloughed federal employees who are not getting paid and who are investing and spending less as a result. That means that the economy has already lost nearly half a percentage point of growth from the four-week shutdown. (Last year, economic growth for the first quarter totaled 2.2 percent.) ''

Democrats To Protect Unpaid Government Employees From Foreclosure

Wed, 16 Jan 2019 14:09:20 GMT

Democrats Move To Stop Foreclosures And Evictions On Unpaid Federal Employees

British pound strengthens after parliament rejects Brexit plan

Wed, 16 Jan 2019 01:34:49 GMT

Parliament on Tuesday struck down the divorce deal that Prime Minister Theresa May had negotiated with the rest of the European Union by a record margin. The defeat was expected, but the size of the loss -- 432 votes to 202 -- was a surprise.
The pound, which had fallen below $1.27 earlier on Tuesday, erased its losses after the vote and strengthened to $1.28. Some analysts had predicted the pound would rally if May suffered a major defeat because that would raise the chance of Brexit being delayed.
The crushing loss means parliament may now wield greater control over the process. Capital Economics said lawmakers could move to delay Brexit while they work on alternatives.

Why mortgage lending at Wells Fargo, Chase and Citi plunged

Wed, 16 Jan 2019 01:32:35 GMT

With earnings from three of the four biggest banks in, one metric stands in sharp relief. Mortgage lending just keeps plunging. In the fourth quarter, mortgage originations at Citi C, +4.16% were down 23% compared to a year ago. At Wells Fargo WFC, -1.55% , they were 28% lower, and at JPMorgan Chase JPM, +0.73% , they were down 30%.
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What's going on? Here's how JPMorgan CFO Marianne Lake described it in her prepared remarks to analysts Wednesday: "Home Lending revenue was down 8%, driven by lower net reduction revenue in a low volume highly competitive environment."
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Mortgage lending is down, mostly because there aren't enough houses for people to buy to sustain a healthy housing market -- although rising rates aren't helping either. Also thanks to those higher rates, the long refinance boom is over

The story behind the biggest price chop in NYC trophy-property history (TAG: ALSO NOT STEVE COHEN'S SHINING MOMENT)

Sat, 12 Jan 2019 00:10:28 GMT

After reducing the price a painful eight times, the unit at 151 East 58th Street has now been relisted at $45 million. That's a whopping $70 million discount from its original 2013 listing price of $115 million.
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Cohen's troubles started in November 2013, when he pleaded guilty to insider trading and agreed to pay a penalty of $1.2 billion.

It was that April that he first listed the apartment for sale at $115 million, but by the end of 2013 he had dropped the price to $98 million.

In 2014, he went down to $82 million, then $79 million in 2015, and $72 million in 2016. By January 2017, the price was at $67.5 million, according to StreetEasy, and by the fall of that year it was $57.5 million, or $6,389 per square foot.

Mnuchin becomes first Trump official called by Democratic House to answer questions about Russia

Fri, 11 Jan 2019 01:28:00 GMT

``Mnuchin wasn't brought in answer questions about all those images that show him fondling dollars at the Mint or otherwise looking like a third-tier Bond villain. Instead, he came to give a behind-closed-doors explanation for why the Treasury Department has moved to drop sanctions against Russian oligarch Oleg Deripaska.''

NYC Blockchain Center Opens As City Sticks With Crypto Plan

Thu, 10 Jan 2019 21:49:34 GMT

New York isn't giving up on the digital-ledger technology that makes Bitcoin and other tokens work even after last year's collapse of the cryptocurrency market.
The New York City Economic Development Corporation said its Blockchain Center in Manhattan will open Thursday a part of a partnership with affiliates of venture-capital fund Future\Perfect Ventures and the Global Blockchain Business Council, a trade organization. The city may also start testing the use of blockchain technology in the fall.

For SoftBank, no majority stake in WeWork as it scales down talks from a new $16 billion investment to $2 billion

Thu, 10 Jan 2019 20:34:36 GMT

Several weeks after it was reported by the WSJ that two of the biggest investors in SoftBank's massive Vision Fund vehicle were cool on its planned $16 billion investment in the coworking company WeWork, those plans have changed radically, says the Financial Times.
According to its sources -- and confirmed by our own -- SoftBank is now in "detailed negotiations" to invest a comparatively modest $2 billion more into WeWork, plans that could be firmed up as soon as the end of this week.
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As it stands, including the $2 billion that WeWork looks to receive from SoftBank imminently, SoftBank will have sunk $10 billion into the company. Perhaps it's no wonder that the newest $2 billion is not coming from the Vision Fund but from SoftBank directly. (Son sometimes invests off SoftBank's balance sheet directly, for expediency's sake and, presumably, in a case such as this one, when there may be pushback from Vision Fund investors.)

REALTOR ALERT: Home Sales Down 25% Due To Government Shutdown

Wed, 09 Jan 2019 14:31:18 GMT

Realtor Group Says Housing Sales Down 25% Due To Government Shutdown. Groups Demand End To Shut Down!

ELDER FRAUD ALERT: Hamptons Couple Indicted for Ripping Off Seniors!

Tue, 08 Jan 2019 15:50:11 GMT

Hamptons Couple John Ficarra and Mara Ficarra Targeted Thousands of Elderly Victims In Massive Elder Fraud Scam

USC Basketball Coach Anthony Bland Better Not Drop The Soap!

Mon, 07 Jan 2019 18:23:53 GMT

Former USC Basketball Coach Faces 5 Years Behind Bars After Pleading Guilty To Bribery In Manhattan Federal Court

Georgia "Deportation" Senator Turns Himself In For Insurance Fraud

Sat, 05 Jan 2019 22:34:15 GMT

GOP Georgia State Senator Who Campaigned With "Deportation Bus" Turns Himself In For Insurance Fraud

Government Shutdown Could Cost Reverse Mortgage Sector Billions

Sat, 05 Jan 2019 19:39:45 GMT

The Government Shutdown Halts Reverse Mortgage Funding Because Lenders Can't Get FHA Endorsements

The Rise of Gold-Backed Cryptos

Fri, 04 Jan 2019 22:12:52 GMT

``Dozens of these gold-backed cryptos are now sprouting up. And the potential is enormous... the potential audience for gold and cryptos is very similar. The people who believe that there should be mediums of exchange that aren't government-sponsored will adopt both cryptos and gold. Second, we saw how the distributed ledger could make the inefficiencies of the gold trade go away, to the benefit of all users.''

Dow surges 700 points after Powell says the Fed will be patient with rate hikes

Fri, 04 Jan 2019 18:40:07 GMT

"As always, there is no preset path for policy, " Powell said. "And particularly with muted inflation readings that we've seen coming in, we will be patient as we watch to see how the economy evolves."
Powell also said the central bank would not "hesitate" to change its balance-sheet reduction plan if it was causing problems. Fears that the Fed may be making a policy error by tightening too fast have contributed to the recent skittishness in financial markets, according to several market experts.

"I think he did what the market hoped he would do," said Tom Essaye, founder of The Sevens Report. "What he did with these comments is he acknowledged that they need to be more flexible."

"This is worth a bounce, but at the same time, the major issues facing the market are not resolved. We have a potential earnings problem in this market; we have a potential economic growth problem in this market," Essaye added. "Today's rally is more a result of the overextended downside from yesterday."

"Coincidentally," this is all exactly what Trump wants.