Category Archives: Big Shitpile

No One Could Have Predicted the Securitization of Rental Properties Would End Badly

I mean, is this the biologically incorrect black swan, or what? (boldface mine): Big Money investors decided to buy up all the foreclosed properties their pals at the banks created during the financial crisis, and rent them out to many … Continue reading

Posted in Big Shitpile | 1 Comment

Big Sh-tpile Just Keeps Rolling Allonge

SEE WHAT I DID THERE? Perhaps not, because you might not be familiar with allonges. An allonge is an additional document that allows additional signatures to be attached to a document. Boring. Unless you’re bundling mortgages. Then it’s very exciting! … Continue reading

Posted in Bidness, Big Shitpile | 2 Comments

Apparently, Shared Sacrifice Means Sixteen Cents on the Dollar

I have no idea what these retirees are supposed to do (boldface mine): Allen and his colleagues are among 30,000 Detroit city workers, past and present, who are about to learn what will happen to their pensions and healthcare if … Continue reading

Posted in Basic Human Decency, Big Shitpile | 2 Comments

The Breakdown of Property Law: The Boca Raton Squatter Edition

I always suspected that when I posted about the breakdown of property law that accompanied the collapse of Big Shitpile (aka the housing crisis) some readers thought I was being a little over the top. Well, it turns out this … Continue reading

Posted in Big Shitpile | 5 Comments

So I Really Did Get Overcharged for a Saline IV

By now, you might have come across this Time article by Stephen Brill about the completely ridiculous price scheme in our medical non-system. Here’s one example (boldface mine): The top billing categories were $73,376 for Scott’s room; $94,799 for “RESP … Continue reading

Posted in Big Shitpile, Healthcare | 2 Comments

Obama Completely Reinvents the Economic History of the Last Decade

Following on Kevin Drum’s request to critique the debates on substance, not style, I, like Yves Smith, was really troubled by this statement by Obama about public deficits (it’s amazing how different my personal take was having read it; boldface … Continue reading

Posted in Big Shitpile, Economics

Securitization of Rents: WHEEEE!!!!

I’m old enough to remember the collapse of Big Shitpile, but apparently the financial sector is not. One of the things that led to the massive bubble in housing prices was the willingness to gave any hominid, regardless of ability … Continue reading

Posted in Bidness, Big Shitpile | 7 Comments