Implode-Explode Heavy Industries news feed http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-64542 Mon, 21 Jan 2019 16:09:28 GMT Ditech Holding Corporation Continues To Dodge Creditors http://implode-explode.com/viewnews/2019-01-21_DitechHoldingCorporationContinuesToDodgeCreditors.html iehi-feed-64541 Sun, 20 Jan 2019 02:24:07 GMT TV Host Chris Hansen Is Now The One Being Hunted http://implode-explode.com/viewnews/2019-01-19_TVHostChrisHansenIsNowTheOneBeingHunted.html iehi-feed-64539 Thu, 17 Jan 2019 17:59:11 GMT Metropolitan Property Group Accused of Illegal Airbnb Rentals http://implode-explode.com/viewnews/2019-01-17_MetropolitanPropertyGroupAccusedofIllegalAirbnbRentals.html iehi-feed-64537 Wed, 16 Jan 2019 22:12:01 GMT Bridgewater's Ray Dalio: Capitalism is not working for most people http://implode-explode.com/viewnews/2019-01-16_BridgewatersRayDalioCapitalismisnotworkingformostpeople.html "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."

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iehi-feed-64536 Wed, 16 Jan 2019 20:29:09 GMT Chris Hansen Of To Catch A Predator Fame Busted Bouncing Checks http://implode-explode.com/viewnews/2019-01-16_ChrisHansenOfToCatchAPredatorFameBustedBouncingChecks.html iehi-feed-64535 Wed, 16 Jan 2019 14:28:43 GMT Shutdown's Economic Damage Starts to Pile Up, Threatening an End to Growth http://implode-explode.com/viewnews/2019-01-16_ShutdownsEconomicDamageStartstoPileUpThreateninganEndtoGrowth.html iehi-feed-64534 Wed, 16 Jan 2019 14:09:20 GMT Democrats To Protect Unpaid Government Employees From Foreclosure http://implode-explode.com/viewnews/2019-01-16_DemocratsToProtectUnpaidGovernmentEmployeesFromForeclosure.html iehi-feed-64532 Wed, 16 Jan 2019 01:34:49 GMT British pound strengthens after parliament rejects Brexit plan http://implode-explode.com/viewnews/2019-01-15_BritishpoundstrengthensafterparliamentrejectsBrexitplan.html 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.

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iehi-feed-64531 Wed, 16 Jan 2019 01:32:35 GMT Why mortgage lending at Wells Fargo, Chase and Citi plunged http://implode-explode.com/viewnews/2019-01-15_WhymortgagelendingatWellsFargoChaseandCitiplunged.html 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

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iehi-feed-64530 Sat, 12 Jan 2019 00:10:28 GMT The story behind the biggest price chop in NYC trophy-property history (TAG: ALSO NOT STEVE COHEN'S SHINING MOMENT) http://implode-explode.com/viewnews/2019-01-11_ThestorybehindthebiggestpricechopinNYCtrophypropertyhistoryTAGAL.html 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.

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iehi-feed-64529 Fri, 11 Jan 2019 01:28:00 GMT Mnuchin becomes first Trump official called by Democratic House to answer questions about Russia http://implode-explode.com/viewnews/2019-01-10_MnuchinbecomesfirstTrumpofficialcalledbyDemocraticHousetoanswerq.html iehi-feed-64528 Thu, 10 Jan 2019 21:49:34 GMT NYC Blockchain Center Opens As City Sticks With Crypto Plan http://implode-explode.com/viewnews/2019-01-10_NYCBlockchainCenterOpensAsCitySticksWithCryptoPlan.html 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.

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iehi-feed-64527 Thu, 10 Jan 2019 20:34:36 GMT For SoftBank, no majority stake in WeWork as it scales down talks from a new $16 billion investment to $2 billion http://implode-explode.com/viewnews/2019-01-10_ForSoftBanknomajoritystakeinWeWorkasitscalesdowntalksfromanew16b.html 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.)

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iehi-feed-64526 Wed, 09 Jan 2019 14:31:18 GMT REALTOR ALERT: Home Sales Down 25% Due To Government Shutdown http://implode-explode.com/viewnews/2019-01-09_REALTORALERTHomeSalesDown25DueToGovernmentShutdown.html iehi-feed-64525 Tue, 08 Jan 2019 15:50:11 GMT ELDER FRAUD ALERT: Hamptons Couple Indicted for Ripping Off Seniors! http://implode-explode.com/viewnews/2019-01-08_ELDERFRAUDALERTHamptonsCoupleIndictedforRippingOffSeniors.html iehi-feed-64523 Mon, 07 Jan 2019 18:23:53 GMT USC Basketball Coach Anthony Bland Better Not Drop The Soap! http://implode-explode.com/viewnews/2019-01-07_USCBasketballCoachAnthonyBlandBetterNotDropTheSoap.html iehi-feed-64521 Sat, 05 Jan 2019 22:34:15 GMT Georgia "Deportation" Senator Turns Himself In For Insurance Fraud http://implode-explode.com/viewnews/2019-01-05_GeorgiaDeportationSenatorTurnsHimselfInForInsuranceFraud.html iehi-feed-64520 Sat, 05 Jan 2019 19:39:45 GMT Government Shutdown Could Cost Reverse Mortgage Sector Billions http://implode-explode.com/viewnews/2019-01-05_GovernmentShutdownCouldCostReverseMortgageSectorBillions.html iehi-feed-64517 Fri, 04 Jan 2019 22:12:52 GMT The Rise of Gold-Backed Cryptos http://implode-explode.com/viewnews/2019-01-04_TheRiseofGoldBackedCryptos.html iehi-feed-64516 Fri, 04 Jan 2019 18:40:07 GMT Dow surges 700 points after Powell says the Fed will be patient with rate hikes http://implode-explode.com/viewnews/2019-01-04_Dowsurges700pointsafterPowellsaystheFedwillbepatientwithratehike.html "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.

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