Day July 28, 2007

Thugs attack protesters in Russia

Neo-Nazis in Russia recently attacked a sleeping camp of anti-nuclear protesters, mostly anarchist greens, beating them so severely that one died and others had broken legs. The police, to put in mildly, are less than helpful to those who were…

Tranche warfare

Class warfare exists in the world of subprime mortgages and bonds, yes it does. Let me explain. Thousands of mortgages get packaged into a bond. The various risk levels of the mortgages are separated into what are called tranches. The…

L.A. County foreclosures up 799%

That’s not a misprint. The foreclosure rate for all Southern California was up 725% over the previous year quarter. It’s happening across the board, for pricey homes as well as small ones. Apparently well-off folks who could have gone with…