Private Equity

Existing Home Sales Slump As Prices Soar To Record Highs

Following yesterday's collapse in new home sales, NAR reports that existing home sales in April also disappointed - dropping 2.3% (and March revised lower). This drop happens as median home prices spiked 6.0% YoY to record highs as sales declines are blamed once again on a lack of supply (forget affordability?).

The Housing Moment Investors Dread Is Here

...Yes, it’s the moment buyers have been waiting for. It is also the moment private equity investors, those who’ve crowded out natural buyers, have been dreading.

Krieger: Wall Street Completely Owns The Trump Administration

"While America’s corporate press remains singularly obsessed with unproven and likely fabricated Russia-collusion conspiracy theories, Wall Street’s well on its way to getting away with financial murder thanks to an army of cronies embedded within the Trump administration."

A Tale Of Two Justice Systems – Wall Street Vs. Main Street

"This twisted application of the law when it comes to two different classes of Americans is extremely corrosive, unethical and ultimately potentially fatal to any society. Until this is dealt with, nothing will get sustainably better for the masses of our fellow citizens."

Frontrunning: May 11

  • After Comey, Russia Probe Escalates (WSJ)
  • Comey Firing Distracts Trump White House, Risking His Agenda (BBG)
  • Trump wanted to preview Comey's Senate testimony (Reuters)
  • Traders Ask What Will Rouse Markets When Trump and Twitter Can't (BBG)
  • EU Raises Growth Forecasts but Cites Threats From Brexit, Trump (WSJ)

Trump Named As "Risk Factor" In Company Filings 3x More Than Obama

According to the research firm Sentieo, which spent hours and hours of time scouring the "Risk Factor" sections of 10-Ks and 10-Qs, Trump has been about 3x more likely to be cited by a publicly traded company in the U.S. as a "Risk Factor" in his first 100 days in office than was Obama.

Are US Taxpayers Now On The Hook For Risky Wall Street Real-Estate-Backed Bonds?

This is not a joke... "The BPOs are key elements in securitizations, determining basic figures such as how much rent to charge tenants, how much leverage and risk is embedded in the deal and how much investors could recover if the bonds go sour. Many of the securities were assigned AAA grades and sold off to investors such as pension funds." Is this 2006 or 2017?

Harvard Endowment Liquidating $2.5 BIllion In Assets

Harvard University’s endowment is trying to sell about $2.5 billion of private equity, venture capital and real estate investments, as part of a sweeping internal restructuring, Axios reported.

Frontrunning: May 3

  • Fed Rate Rise Unlikely, but Possible June Move in Focus (WSJ)
  • GOP Health-Bill Woes Signal Centrists’ Rise (WSJ)
  • As U.S. and China find common ground on North Korea, is Russia the wild card? (Reuters)
  • North Korea says American was detained for 'attempted subversion' (Reuters)
  • SEC Probes Solar Companies Over Customer Cancellations (WSJ)
  • Slumping Car Sales Are Latest Data to Rattle Bets on Growth (WSJ)

Welcome To The Corporatocracy

The interests of Washington and large corporations have merged so completely they are now inseparable.