U.S. Stocks Fall on Greece as Apple Erases Rally - Bloomberg

It is hard to say what is going on in the economy with the housing mess, the European mess and the stock market looking to break out but not sure if it has the strength.  The proxy to the economy, in transportation averages fell today 2% and all of this after a strong close yesterday. 


U.S. stocks fell, sending the Standard & Poor’s 500 Index lower for a second day, as concern grew that Greece was moving closer to default and the Federal Reserve said policy makers were divided on buying more assets.
Apple Inc. (AAPL) decreased 2.3 percent, reversing a 3.3 percent rally and snapping an eight-day advance. Industrial shares had the biggest decline in the S&P 500 among 10 groups as Deere & Co. tumbled 5.4 percent after lowering its 2012 U.S. farmer revenue forecast. The Dow Jones Transportation Average, a proxy for the economy, slumped 2 percent as CSX Corp. (CSX) and Union Pacific Corp. (UNP) retreated more than 2.8 percent.
U.S. Stocks Fall on Greece as Apple Erases Rally - Bloomberg

NYT: Banks poised for dividends after 3-year gap - Business - The New York Times - msnbc.com

Banks on a role. Amazing what trillions of dollars in bailout money will do to get you through a recession. Our government and citizens do not have the will to hold the banks accountable for their law breaking activity, regardless of the damage they have inflicted on the country.

New York Times Story paying dividends again. 
NYT: Banks poised for dividends after 3-year gap - Business - The New York Times - msnbc.com:
 "Investors in bank stocks are about to get a big cut of the profits again. Financial analysts say the nation’s largest banks are ready to begin restoring their dividends in the first half of the year, after a three-year pause to repair their damaged balance sheets. The reversal could put billions of dollars in the pockets of pension funds and retirees who had viewed bank shares as dependable sources of income. Clues to how big a payout is in store could come as early as Friday, when JPMorgan Chase announces its 2010 financial performance, the first of many earnings reports to come over the next week from the likes of Bank of America, Citigroup, Goldman Sachs and Wells Fargo."

Elisabeth Warren needs a lifeline from the Obama Administration

Elizabeth Warren all alone in defense of the home owner. You can see in this video clip from Bloomberg News that banks are still running over the tax payer with no let up in sight. 
Huge bonuses for Wall Street Criminals who ran the economy into the ground, as the country uses up savings and 401 k funds to try and weather the economic collapse. There is no justification for the profits the bankers are reaping based on the free money offered by the fed. The idea of helping banks was to help the country and to get the toxic assets off the books.
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What has happened since the banks fleeced the country. See the full list here at More Financial Reality.

Government is being run by the banks. The executives who have wiped out trillions of dollars in capital have been handsomely rewarded. The government has been brainwashed into letting the banks bitch slap them. It is rather pathetic that this has gone on for nearly 4 years and not a single thing has been done to change the system.

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Elizabeth Warren continues to side with the homeowner but is left powerless to make any meaningful change to the system. The land of opportunity has be overtaken by the self interested elite as we allow politicians to lie daily without consequences. No party is better than the other and it seems they are more willing to throw mud on each other than actually do anything for the American people.
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My disdain and disgust grow exponentially as the crisis drags on into another year. Each day I hear more rhetoric from people who know nothing about reality. The clamoring over jobs is just stupidity until the housing crisis is settled in a way that is equitable to home owners and not just the banks.  The flow and velocity of money in the economy are directly related to the housing industry. Any economist who says differently is not worth their weight in salt. Few people have taken the time to study what caused the crisis. The unwillingness to understand something so fundamental to the economy is perplexing but understandable. As long as the finance industry is running the country the politicians will bow in their honor.

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