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Pensions: $1.3+ Trillion Shortfall, Beneficiaries Unaware

Livinglies's Weblog

When the great call comes for pension benefits that are unfunded workers who depended on using their retirement money to survive will find that the money managers have been taking outsize fees while investing in world class scam on Wall Street.

Banks win, everyone else loses. Everyone is kicking the can down the road to avoid a revolt. The “shortfall” means that there won’t be enough money to pay out all the benefits that workers and their employers invested for their retirement. The cause is mostly the worthless “mortgage-backed securities” and a fair share of other forms of mismanagement.

Besides the shortfall many of these people were unknowingly contributing to their own demise: The money went into managed, funds, fund managers (companies) assumed the job of management, and portfolio managers actually did the management of the money — badly.

Get a consult! 202-838-6345
https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or…

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Is the Number of Foreclosures Going Up or Down?

Livinglies's Weblog

It depends who you ask, when you ask and where you ask. The Wall Street Banks have been very effective at putting out stories to make it appear that foreclosures are all but over.

You can read story after story about how foreclosures are “lowest since” 1991 or whatever. But in an age of 140 characters you need to read just a little bit further to see that the article came from a small town newspaper in a place where the population is 300. There are dozens of stories like this each with the announced purpose of conveying that the foreclosure crisis is over and legislatures need not do anything against banks and servicers anymore. Rocket Dockets have been rolled up and the banks have stopped paying for them which is whole other story.

The current Wall Street strategy is to maintain the appearance of a disappearing problem. The principal…

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