Down Market more news of manipulation

Evidently the media can no longer deny the reality of our economy.  They have milked the so called recovery for as long as possible.  Now that the market is not being manipulated to the upside by large corporations any longer, the media has to get on the band wagon that is rolling out the economy sucks banner.  The reporting on the economic crisis has been nothing less than despicable the past few years.  A few have taken up the truth flag such as Dylan Radigan, but the reporting of the msm has been completely bought and paid for by corporate America and the  White House.

The middle class America has been wiped out and the burden on small businesses has been so onerous that they can not grow and hire.  The thought of running a small business is not longer the thought of growing and expanding.  Owning your own business in this day and age is just a way to trick people into thinking they have something more than a job.  Even worse, owning your small business has become just a way to have a job without any vacation or benefits.
 
The balance in our economy, if there ever was one, has been tilted completely in favor of the elites and those running the government.  Now we hear the media ringing the bell that the stock market is headed south but it has little to do with the economy. 

The stock market will go down because the institutional traders want it to go down so they can screw any one holding stock now that it has gone upward far enough for people regain some hope that they may be able to take a breath and relax. 
How could it be any clearer?  The Stock market went up with no growth in the economy.  It was a total manipulation by corporate American and the government.  The hope was that it would improve the attitude of the country and they would all start spending money, Even the ones that are still  unemployed.  The complete incompetence of the government has screwed the economy for years ahead.  People still talk crap that housing is not a large part of the economy.  Evidently they don't teach much in econ class at the ivy league institutions.  This is likely because economics is bull shit and it has been and always will be used to manipulate the American people.  Economics is not difficult to understand the government doesn't want people to question the Oligarchs running the country.  We have been divided into a two class society with the separation of rich and poor getting larger and larger. 

The truth of a down economy has never been told, other that Matt taibbi in his recent rolling stone piece, (this is a must read by everyone)   makes it clear we were raped by the likes of Goldman Sachs and their friends in the government. 







Investors may have to get used to down market - Business - Stocks & economy - msnbc.com
from MSNBC

After closing at its highest level in nearly three years on April 29, the S&P 500 has tumbled nearly 7 percent on the back of a barrage of soft economic data, sparking the debate over whether the economy is headed for a double-dip, or has merely hit a soft patch in its recovery.


The benchmark S&P 500 recorded its sixth straight weekly decline Friday and volume has picked up, as it typically does, on down days. Another week of selling will mark the longest stretch of weekly losses for the index since 2001.



Red flags, including ugliness in the junk bond market, options activity and the ease with which support levels have been broken, suggest more selling ahead.



"You have to be realistic. You've got to have some sort of correction to go into this marketplace just for the healthiness of the market," said Cliff Draughn, president and chief investment officer at Excelsia Investment Advisors in Savannah, Georgia.



As stocks have declined, both investment-grade and high-yield risk premiums in the bond market have slumped as investors sought safe-haven assets.



That's troublesome since the stock market often moves in sympathy with the junk bond market because rising borrowing costs crimp corporate profits.

Read more on the lack of a recovery here at Naked Capitalism (Dude where is my recovery)

Anti Mers Bill From the House

H.R. 6460 Bill Text

Decision Points

Oral arugments from CountryWide Vs Kemp tell incredible story

We are now just seeing the extent of the cover up the banks have participating in regarding their failure to abide by the pooling service agreements. This transcript is from January 7, 2010.  It is clear that the banks were well aware of the issues going on during the past few years and had little regard for the damage they were inflicting on the economy.  It is amazing that people are still coming on national television and saying that the issues is putting people into homes they could not afford. 

These are the professionals running financial institutions on Wall Street.  They seem destined to never take any responsibility for the creation of a MBS system that would take down the country. 

There are a few great parts to the transcript and the Lawyer representing the banks is asked a few questions that he can not answer.  The judge would not let him dance around the issues or put forth the argument that his client had the right to the property because that was the intention of all parties at the time of closing.  It appears that the banks went ahead and created their shell company of Mers with the belief they they could circumvent the law.  The judge in this case put everyone on notice that it wasn't that simple. 
Essentials of Business Ethics: Creating an Organization of High Integrity and Superior Performance (Essentials Series)
Hard to believe we heard little of this story the first 6-8 months of the year as banks foreclosed on thousands and thousands of homes.  The implications may be reach far greater than any one imagined.  

Transcript of Oral Arguments for Countrywide v Kemp