Month April 2007

Subprime rot spreads

Now the Alt-A loans are getting hit with more defaults, and this sector was originally considered safe. Not any more. More defaults means housing prices will drop because of all the distressed homes on the market. Current homeowners who are…

DiFi feels the heat

Code Pink, Raging Grannies ask Feinstein to return profits to Iraq amid allegations of corruption and war profiteering Sen. Feinstein’s denials, quoted in the article, are getting more heated, a sure sign the pressure is mounting.

Marxist surge predicted in UK

“The middle classes could become a revolutionary class, taking the role envisaged for the proletariat by Marx,” says the report. The thesis is based on a growing gap between the middle classes and the super-rich on one hand and an…