Wishing everyone a safe and fun Fourth of July weekend. This is a good time to spend with family and friends, relax, forget for a while the problems of the day and to remember why we are Americans and why this is America. The Fourth of July would not have been possible were it not for "We The People". Let us not forget that it is still "We The People" who "Together Can Make A Difference".
This flag is still they symbol of America. It will never be confused or fly below any Too Big Too Fail corporation flag.
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By solari
1 COMMENTS:
After read this article the layman can only come away that most of our Masters of the Universe rule the planet $cumbag....(take the time to read it)
In the post, “Doesn’t Morgan Stanley Read My Blog?”, I lamented on the fact that I made very clear in 2007 that anyone who bought the Sam Zell/Blackstone flips were guaranteed to lose money. It was literally etched in stone. It was a miracle that Blackstone didn’t lose their shirt attempting to flip large office building parks like overpriced single family homes at the top of a bubble (and they almost did). Well, guess who bought those “Peak CRE” buildings on behalf of their clients as they raked in the fees? You guessed it. None other than Morgan Stanley on behalf of their fund clients. This particular purchase was a 100% equity loss – just as I clearly and resolutely warned it would be back in 2007 when they made the purchase. See “Will the commercial real estate market fall? Of course it will” 09 December 2007. So, how could I have seen this coming and the wizards at MS could not have? Well, as smart as I would like to declare myself to be, it is easily argued that MS did see it coming and didn’t care, for they made money on the deals anyway (more on that in a minute). For the time being though, the entire fund apparently lost about 61% of the shareholder’s money. See this WSJ article: Morgan Stanley Property Fund Faces $5.4 Billion Loss.
Not to be outdone by those “lesser” brands on Wall Street. Goldman Sachs lost nearly 100% of their clients money in a similar CRE fund. Reference this FT article: Goldman real estate fund down to $30m (they lost $1.76 billion, yes, that’s a very big percentage loss).
http://tinyurl.com/32hl82n
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