Lawrence Yun’s Keen Sense of the Obvious

Contracts on existing homes were down in November, prompting NAR to report that the market may not improve tomorrow.

Head soothsayer for the National Association of Realtors, Lawrence Yun, in response to the NAR’s Pending Home Sales Index report that showed a drop in the number of sales contracts entered into on existing homes in November: Read the story »

The Great Wall Street of China

2007 saw a record $414 billion of foreign investment in American companies and assets. Sovereign wealth funds, which are investment funds or companies owned by governments, accounted for over $21.5 billion of that investment in American companies last year. The concern is that supposedly free markets could be manipulated by state sponsored companies for geo-political goals.

“This is a phenomenon that could be called the growth of state capitalism as opposed to market capitalism. The United States has not ever been on the receiving end of this before.” said Jeffrey Garten of the Yale School of Management. Read the story »

Congress’ Version of the Dr. Phil Show

Self-appointed watchdog, Rep. Henry Waxman, Chairman of the House Committee on Oversight and Government Reform, has invited three high profile, highly paid current or former CEOs to “get real” and “just own” their involvement in the current mortgage mess that is dragging down Wall St and the U.S. economy. Read the story »