We just finished watching the Catonsville fireworks show, and before that, we did a cookout at Patapsco State Park.
The weather was glorious, clear and with a high in the 70s.
It actually got a bit nippy while we were watching the fireworks.
It’s the coolest Independence Day I can remember since moving to Maryland.
Posted via mobile.
Robert Peston, Economics Editor at the BBC, was notified by Google that it was removing one of his blog posts from its European search index in accordance with the European Court of Justice’s recent ruling giving people “The Tight to be Forgotten”:
This morning the BBC received the following notification from Google:
Notice of removal from Google Search: we regret to inform you that we are no longer able to show the following pages from your website in response to certain searches on European versions of Google:
http://www.bbc.co.uk/blogs/legacy/thereporters/ robertpeston/2007/10/merrills_mess.html
What it means is that a blog I wrote in 2007 will no longer be findable when searching on Google in Europe.
Which means that to all intents and purposes the article has been removed from the public record, given that Google is the route to information and stories for most people.
So why has Google killed this example of my journalism?
Well it has responded to someone exercising his or her new “right to be forgotten”, following a ruling in May by the European Court of Justice that Google must delete “inadequate, irrelevant or no longer relevant” data from its results when a member of the public requests it.
(emphasis original)
The only person mentioned in this article was the disgraced former head of Merrill Lynch, Stan O’Neill, but the Ex-Merrill CEO has denied any knowledge of this request, though this is a kind of non-denial denial, where he might have hired a law form, or someone like Reputation.com to monitor his online presence, and they sent the request at his request.
You will notice that O’Neill did not deny that he had taken action to improve his reputation on the web, only that he lacked specific knowledge of this request.
In an update, Mr. Peston suggests that the request might have come from someone who commented on his post, since a search for Mr. O’Neill still pulls up the post, but I did a search of Google.co.uk for all of the commenter’s who left a proper name, and they all came up as well.
The Guardian revealed that they had been notified that 3 sets of articles, about a lying soccer ref, French Post-It® art, and a lawyer on trial for fraud.
This is, of course, a complete clusterf%$#, as was predicted when this ruling came down.
Not it appears that vaccine prices are the latest case of looting by corporate medicine:
There is little that Dr. Lindsay Irvin has not done for the children’s vaccines in her office refrigerator: She remortgaged her home to afford their rising prices. She packed them in ice chests and moved them when her office flooded this year. She pays a company to monitor the fridge in case the temperature rises.
“The security company can call me any time of the day or night so I can go save my vaccines,” said Dr. Irvin, a pediatrician. Those in the refrigerator recently cost $70,000, she said — “more than I paid for four years of medical school.”
Vaccination prices have gone from single digits to sometimes triple digits in the last two decades, creating dilemmas for doctors and their patients as well as straining public health budgets. Here in San Antonio and elsewhere, some doctors have stopped offering immunizations because they say they cannot afford to buy these potentially lifesaving preventive treatments that insurers often reimburse poorly, sometimes even at a loss.
Childhood immunizations are so vital to public health that the Affordable Care Act mandates their coverage at no out-of-pocket cost and they are generally required for school entry. Once a loss leader for manufacturers, because they are often more expensive to produce than conventional drugs, vaccines now can be very profitable.
Old vaccines have been reformulated with higher costs. New ones have entered the market at once-unthinkable prices. Together, since 1986, they have pushed up the average cost to fully vaccinate a child with private insurance to the age of 18 to $2,192 from $100, according to data from the Centers for Disease Control and Prevention. Even with deep discounts, the costs for the federal government, which buys half of all vaccines for the nation’s children, have increased 15-fold during that period. The most expensive shot for young children in Dr. Irvin’s refrigerator is Prevnar 13, which prevents diseases caused by pneumococcal bacteria, from ear infections to pneumonia.
And Prevnar started expensive, and the cost has gone up from there, and it had to nothing to do with the cost of the product:
The value of that “school mandate” is also apparent in the pricing. When Singapore’s national vaccine advisory group evaluated Prevnar 7 for mandated use, its price was about $80, said Karen Tyo, a researcher from Brandeis University, who was advising the government. After the government included it in the required national schedule, “the price jumped immediately” to about $120, she said. “Nothing had changed,” she noted. “It didn’t make any sense.”
………
The Swiss Agency for Therapeutic Products pays $101, a price that has not changed over time. In Britain, the small private health care market sells prefilled syringes of Prevnar 13 for an average of $82 at pharmacies; the National Health Service pays even less, experts say. Prefilled syringes cost an average of $136 in the United States, and even the C.D.C. — which buys vaccines for the Medicaid program at a discount — pays $112.84.
If the US government grants a monopoly in the form of patents, perhaps compulsory licensing, something allowed for in all of international IP agreements.
It might be a good for the US government to take advantage of this.
Simply paying for price gouging is not working.
Francis has defrocked the formal Papal ambassador to the Dominican Republic, the former Archbishop Josef Wesolowski for sexually abusing boys.
You saw a bit of damage control under Benedict, but this is strong statement against JP II’s willful blindness on this matter:
The Vatican has defrocked Archbishop Josef Wesolowski, the former Vatican ambassador to the Dominican Republic following an investigation into his sexual abuse of boys. He is the highest-yet ranking official of the Church to be so punished.
The former Archbishop, now just Josef Wesolowski, has two months to appeal his dismissal and laicization. He is no longer a priest of the Church.
Following his period of appeal, during which he may or may not choose to fight the decision, he will face a criminal trial under the Vatican City State tribunal. If convicted, he will face a jail term. The Vatican has recently updated its laws to punish with criminal penalties those who sexually abuse children and says it will take measures to ensure that Wesolowski does not flee justice.
Pope Francis has instituted a zero-tolerance crackdown on clergy who abuse children, saying they would not have any special privileges and that even high-ranking offenders would be severely and swiftly punished.
Pope Francis is the first Pope to take such drastic measures to deal with the problem of child sexual abuse in the Church although both Pope John Paul II and Benedict XVI also took steps to protect children. The measures now instituted by Pope Francis are the most significant in history, ensuring that offenders cannot use the Church as cover and will face certain prison time if found guilty.
This guy really is a breath of fresh air.
Parents worried about getting young children vaccinated against infectious diseases have fresh cause for reassurance, researchers say.
A new review of existing scientific evidence has concluded that childhood vaccines are safe and don’t cause serious health problems such as autism or leukemia.
“Our findings support that vaccines are very safe for children, and add to a substantial body of evidence that the benefits of vaccination outweigh the very low risks,” said senior author Dr. Courtney Gidengil, an associate physician scientist at RAND Corporation and an instructor at Harvard Medical School. “Hopefully, this will engage hesitant parents in discussions with their health care providers.”
The review found strong evidence that the MMR (measles, mumps and rubella) vaccine is not associated with autism, which is consistent with previous reviews of this rumored link.
Some parents have chosen not to have their children vaccinated because of a now-debunked and retracted study published in 1998 that suggested that the MMR vaccine might cause autism. It was later reported that the study’s author, Dr. Andrew Wakefield, had altered some of the study’s results.
The researchers behind the new study also found no link between childhood leukemia and vaccines for MMR, DTaP (diphtheria, tetanus and pertussis), tetanus, influenza and hepatitis B.
Overall, vaccines given to children 6 or younger are safe, causing few side effects, the review concluded. The findings are published in the July 1 online edition and the August print issue of the journal Pediatrics.
The fact that Andrew Wakefield is still a free man, when the death toll of his fraud numbers in the thousands, dishonors both the justice system and the scientific community.
Microsoft filed a lawsuit to seize domains from No-IP.com. Their reason?
In a blog post, Richard Domingues, assistant general counsel for the Microsoft digital crimes unit, said Microsoft pursued the seizure for No-IP’s role “in creating, controlling, and assisting in infecting millions of computers with malicious software—harming Microsoft, its customers and the public at large.” He added: “We’re taking No-IP to task as the owner of infrastructure frequently exploited by cybercriminals to infect innocent victims with the Bladeabindi (NJrat) and Jenxcus (NJw0rm) family of malware.”
(emphasis mine)
To quote the great Anna Russell, “I’m Not Making This Up, You Know.”
Seriously, “Zero Day” Microsoft, the creater of of Windows™, is complaining about someone being the “Owner of infrastructure frequently exploited by cybercriminals to infect innocent victims?”
Really?
The irony here is stunning.
While I make jokes about the small penis brigade who carry long arms (Rifles and Shotguns) in public, in Georgia, we now see Georgia’s open carry laws which have created a crop of people who have pistols on their hips, and fantasies of killing someone in thier heads:
On the first day of the new Georgia Safe Carry Protection Act, a misunderstanding between two armed men in a convenience store Tuesday led to a drawn firearm and a man’s arrest.
“Essentially, it involved one customer with a gun on his hip when a second customer entered with a gun on his hip,” said Valdosta Police Chief Brian Childress.
At approximately 3 p.m. Tuesday, police responded to a call regarding a customer dispute at the Enmark on the corner of Park Avenue and North Lee Street.
A man carrying a holstered firearm entered the store to make a purchase. Another customer, also with a holstered firearm, approached him and demanded to see his identification and firearms license, according to the Valdosta Police Department report.
The customer making demands for ID pulled his firearm from its holster but never pointed it at the other customer, who said he was not obligated to show any permits or identification.
He demanded the man’s ID again. Undeterred by the drawn gun, the man paid for his items, left the store and called for police.
Gee, hoocoodanode that this would have happened?
Hoodcoodanode that this would happen from day one?
I dunno, pretty much EVERYONE coodanode?
We now have the usual group of rat-f%$#s, including Rick “Invited by Obama to giva a benediction at his first inaugeration” Warren, are demanding the right to discriminate against LGBT employees:
This week, in the Hobby Lobby case, the Supreme Court ruled that a religious employer could not be required to provide employees with certain types of contraception. That decision is beginning to reverberate: A group of faith leaders is urging the Obama administration to include a religious exemption in a forthcoming LGBT anti-discrimination action.
Their call, in a letter sent to the White House Tuesday, attempts to capitalize on the Supreme Court case by arguing that it shows the administration must show more deference to the prerogatives of religion.
“We are asking that an extension of protection for one group not come at the expense of faith communities whose religious identity and beliefs motivate them to serve those in need,” the letter states.
I am so ready for Antonin Scalia to choke to death on his own bile and be replaced by a justice who is not an unethical hack.
Letter follows:
We have the natural food manufacturer Eden Foods:
The slogan for Eden Foods, which describes itself as the “oldest natural and organic food company in North America,” is “creation and maintenance of purity in food.” Its CEO and founder, Michael Potter, has been prominent in debates over labeling of organic food and GMOs. But the company has been quietly seeking in court another form of purity — to Catholic doctrine about sex being solely for procreation. That goes not just for Potter, but for all 128 of his employees.
That is, Eden Foods — an organic food company with no shortage of liberal customers — has quietly pursued a decidedly right-wing agenda, suing the Obama administration for exemption from the mandate to cover contraception for its employees under the Affordable Care Act. In court filings, Eden Foods, represented by the conservative Thomas More Law Center, alleges that its rights have been violated under the First Amendment, the Religious Freedom Restoration Act and the Administrative Procedure Act.
Eden Foods, which did not respond to a request for comment, says in its filing that the company believes of birth control that “these procedures almost always involve immoral and unnatural practices.” The complaint also says that “Plaintiffs believe that Plan B and ‘ella’ can cause the death of the embryo, which is a person.” (Studies show that neither Plan B nor Ella interfere with fertilization, which is the Catholic definition of the beginning of life, if not the medical one. In other words, not the death of an embryo. Also, at that stage, it’s a zygote, not an embryo — let alone a “person.”) The filing also said that “Plaintiff Eden Foods’ products, methods, and accomplishments are described by critics as: tasteful, nutritious, wholesome, principled, unrivaled, nurturing, pure.”
Until now, Eden Foods’ conservative advocacy litigation has remained mostly under the radar, even as their marketing seems designed to appeal to liberals, from the slogan ”Organic agriculture is society’s brightest hope for positive change” to the ’60s imagery and the use of the word “revolution” in some of its print marketing. The company’s mission statement includes its goal to “contribute to peaceful evolution on earth,” “to maintain a healthy, respectful, challenging, and rewarding environment for employees,” and to “cultivate sound relationships with other organizations and individuals who are like minded and involved in like pursuits.”
They are also a closely held company, so according to five of the so-called Justices on the Supreme Court, it’s their right, but do not buy their products.
F%$# them and the horse they rode in on.
And what’s more, the response of the state department was to expel the investigator from Iraq:
Just weeks before Blackwater guards fatally shot 17 civilians at Baghdad’s Nisour Square in 2007, the State Department began investigating the security contractor’s operations in Iraq. But the inquiry was abandoned after Blackwater’s top manager there issued a threat: “that he could kill” the government’s chief investigator and “no one could or would do anything about it as we were in Iraq,” according to department reports.
American Embassy officials in Baghdad sided with Blackwater rather than the State Department investigators as a dispute over the probe escalated in August 2007, the previously undisclosed documents show. The officials told the investigators that they had disrupted the embassy’s relationship with the security contractor and ordered them to leave the country, according to the reports.
After returning to Washington, the chief investigator wrote a scathing report to State Department officials documenting misconduct by Blackwater employees and warning that lax oversight of the company, which had a contract worth more than $1 billion to protect American diplomats, had created “an environment full of liability and negligence.”
(emphasis mine)
This raises the obvious question, just who at the State Department makes a habit of engaging in unnatural acts with sheep, and how did Blackwater get video of them doing this.*
Well, it’s mentioned in passing in the above story that when State investigated this, the investigation was headed by Patrick Kennedy. (Not one of THE Kennedys)
At Foreign Policy, they go into detail on Mr. Kennedy’s repeated roll in this, and similar clusterf%$#s:
Eye-opening new revelations about the private security firm formerly known as Blackwater Worldwide and its cozy relationship with the State Department are raising new questions about a senior Foggy Bottom bureaucrat who has found himself in Capitol Hill’s crosshairs before — and seems certain to now do so again.
On Sunday, the New York Times reported that Patrick Kennedy, the State Department’s current under secretary for management, led a review of the private security firm in 2007 after its guards fatally shot 17 Iraqi civilians in Baghdad’s Nisour Square. Kennedy’s review, however, failed to reference a scathing State Department memo on the contractor completed just weeks earlier that found the company had systematically overcharged the government. The memo also alleged a senior Blackwater executive in Baghdad threatened to kill the State Department auditor behind the memo. At the time, Kennedy dismissed questions about early warnings of Blackwater misconduct.
………
Though the incident is now seven years old, anger remains on Capitol Hill about how the State Department, and in particular, Kennedy, manages relations with government contractors. On Monday, an aide for Senator Claire McCaskill (D-M.O.) noted his boss’s “longstanding frustrations with the failure to improve contract management at the State Department.” He cited an April letter between McCaskill and Kennedy in which she scolds Kennedy for failing to implement recommendations from the Inspector General about the maintenance of contract files dating back seven years.
………
No one on the panel interviewed Richter, according to the panel’s final report, which includes a list of everyone consulted about the incident. It’s particularly unusual that the panel didn’t talk to Richter given that he specifically visited Iraq to review the State Department’s contract with Blackwater, the firm at the center of the controversy. During a press Q&A on October 23, 2007, then-Time magazine reporter Brian Bennett noted the existence of “complaints about contractor conduct,” and asked “why this review wasn’t done earlier?” In response, Kennedy told reporters that his review found no communications from the embassy in Baghdad complaining about contractor conduct prior to the Nisour Square killings.
It should be noted that a cursory record of Kennedy’s record (his Wiki, for what it’s worth) it appears that Kennedy has had at least one similar incidents previously.
*To be fair, it could also be bribery that is responsible for this behavior, but my money is on a dead hooker in a hotel room in Bayonne, NJ.†
†Actually, it is also possible that this was a product of the cronyism that was rife at the instigation of Rumsfeld and Cheney.‡
‡Or, he could, as a lifelong member of the State Department, he could simply be inculcated in a tradition of CYA and obfuscation, particularly as regards the actions of politically connected ambassadors, but the sheep thing just makes better copy.
Neat orgami robotic wheel concept:
In Harris v. Quinn, the Supreme Court ruled that home healthcare workers who are not members of a union do not have to pay dues for the services received.
It is better than could be expected, since they could have applied this to all public sector unions, effectively going right to work nationwide.
What I do think is that it is clear that this, along with an earlier decision, Knox v. SEIU, are an attempt to reverse the National Labor Relations Act via the death of 1000 cuts.
Eventually, assuming that the current 5-4 reactionary judge/real judge split remains in place on the Supreme Court, they will be making it impossible for labor unions to function in the United States for the next decade.
This is partisanship masquerading as an impartial judiciary.
The basic decision is completely incoherent and contradictory.
The gist of the decision is that private corporations can ignore basic regulations if they are “sincerely held beliefs,” whatever the f%$# means, which ignores decades of jurisprudence which slapped down various flavors of bigots, sexists, and nut-jobs who have attempted to use religion to avoid following civil law.
They say that this is so because to quote Mitt Rmoney, “corporations are people too.”
They say that it only applies to “closely held” corporations, (fewer than 5 people holding over half of the equity in the firm) but provide no real explanation for why it should so be limited, and they do not explain why it does not, for example, apply to multibillion dollar corporations like Koch industries.†
Furthermore, they say that it applies only to contraception, and not, for example, to the JW’s objection to blood transfusion or vaccination, but again, they simply say this, and provide no real justification:
This decision concerns only the contraceptive mandate andshould not be understood to hold that all insurance-coverage mandates, e.g., for vaccinations or blood transfusions, must necessarily fall if they conflict with an employer’s religious beliefs. Nor does it provide a shield for employers who might cloak illegal discrimination as a religious practice.
Basically, it only applies to contraception, because we care about what Catholics and right wing Evangelicals think, but not (Mercy!) Jehovah’s Witnesses.
What’s more, they redifine the definition of corporations to justify their opinion:
In other words, the Court has changed, definitionally, what it means to be a corporation under the state laws in question.
The existential condition of separateness is true even with closely held companies. The largest such companies – Cargill, Koch Industries, Dell, Bechtel, and Aramark, to name just a handful – have tens of thousands of employees and billions of dollars of revenue. (In 2008, Forbes reported that the 441 largest closely held companies employed more than 6 million people and enjoyed $1.8 trillion in revenue.) They are created under the same understanding of a wall existing between shareholders and the company. They could indeed not exist otherwise – the potential liability to individual investors would simply be too great.
So in evaluating whether Congress intended the word “person” in RFRA to cover corporations, the most reasonable assumption is that the states creating such entities intended such separateness and that corporations should not carry the rights of their shareholders. To assume otherwise flies in the face of decades, indeed centuries, of corporate law assumptions.
The Court makes a second corporate law mistake. In arguing that for-profit companies can have religious purposes, the Court makes hay from the fact that state incorporation statutes typically allow businesses to be chartered for any “lawful purpose or activity.” The Court uses this corporate law truth to argue, as a descriptive matter, that some corporations in fact engage in behavior that is in conformity with the religious views of their shareholders.
………
Indeed, I will not be surprised if we see, in the coming weeks, a host of closely held corporations – and a few publicly traded ones – asserting the right to discriminate against LGBT job applicants, employees, and customers notwithstanding various state laws to the contrary.
This is an unbelievably bad decision, and, unless the Congress revokes the Religious Freedom Restoration Act (the justification for the ruling), we are in for decades of counter productive anti-American religious zealotry.
This is a horrible decision, and if it had been made at the federal court level, we would assume that it would have been overturned at the appellate level before the ink was dry.
*Dred Scott v. Sandford. If you need this link, read some f%$#ing history.
†I dunno. Maybe they do want it apply to Koch industries.
My brother and his daughter had a visit from Mormon Missionaries, and the missionaries got seriously schooled.
Seriously. My brother knew the bible better than they did.
Go read.
The bodies of the three kidnapped teens have been found in Israel:
Israel’s intense 18-day search for three abducted teenagers ended Monday when three bodies were found buried under a pile of rocks in an open field about 15 miles from where the youths were last seen in the occupied West Bank. A nation that had been enmeshed in hopeful prayer was instantly engulfed by a mix of grief and anger and vowed retaliation against the militant Palestinian group Hamas, which Israel says was behind the kidnapping.
“They were kidnapped and murdered in cold blood by beasts,” Prime Minister Benjamin Netanyahu of Israel said at the start of an emergency cabinet meeting Monday night. “Hamas is responsible, and Hamas will pay.”
Just after midnight, witnesses in the West Bank city of Hebron said the retaliation had begun as Israeli forces used explosives to demolish the homes of Marwan Qawasmeh and Amer Abu Aisha, the Hamas men who have been missing as long as the teenagers and are Israel’s prime suspects.
We are going to see dozens, if not hundreds, of casualties following this, and there is a real possibility that hostilities between Hamas and Fatah resuming as well.
I do not know how many people will die because of this, but my guess is that 90% of them will be Palestinian. (Particularly since that ratf%$# Natanyahu clearly does not view Palestinians as full human beings)
What the hell were the perps thinking? I could (kind of) understand if they had demanded a prisoner swap, or if the targeted people were troops, but this is just destructive for its own sake.
The only think that I can figure out is that, to quote Alfred Pennyworth, “Some men just want to watch the world burn.”
This is epically stupid:
Insert your favorite firearms related pun here.
In response to the advance of ISIS, the Iraqi military has taken an emergency deliveries of Su-25 ground attack fighters:
A video uploaded by the Iraqi Ministry of Defence and a subsequent announcement shed light on Iraq’s first success in acquiring a combat capable platform to stop the advance of the Islamic State. The latter has made great progress in capturing large areas of Iraq and is now slowly advancing to Iraq’s capital Baghdad.
”The Ministry of Defence announced the arrival of the first out of five Russian combat aircraft Su-25 into Iraqi territory under a contract with the Russian ministry, which will contribute to increasing the combat capability of the Air Force and the other branches of the armed forces to eliminate terrorism.”
The Iraqi Army and Air Force have proved anything but capable to halt the Islamic State’s advance and have been desperately looking for other ways to fill the caps currently posed in Iraqi’s Armed Forces. With the United States reluctant to provide close air support or speeding up the delivery of Iraq’s F-16s, Iraq has been increasingly looking to countries in Eastern Europe to strengthen the Iraqi Air Force (IQAF). It is now clear a batch of five ex-Russian Su-25s are the first to have arrived.
The first Su-25, still in Russian Air Force (RuAF) camouflage and with a hastily applied Iraqi flag, arrived onboard a Russian An-124-100 cargo plane together with ground support equipment on the 28th of June. The Su-25s are believed to have been stored at the Aircraft Repair Plant 121 (ARZ 121) in Kubinka before being flown to Iraq. The contract also included new engines for the aircraft, which were installed just before the delivery flight.
The Iraqis have been waiting for the delivery of F-16s, but they got these surplus Su-25s in a matter of a few weeks.
It also of note that the Iraq AF operated this under Saddam, and the Iranians operate them today, so there is operational experience that can be tapped.
Additionally, under the current tactical situation, it’s a better weapon system than the F-16, because what is needed is a dedicated close air support (CAS) and strike aircraft with low operational costs.
What’s more the aircraft’s agility at low speed and low altitude allows it to maximize the effect of unguided munitions, which comprise the bulk of Iraqi munitions.
Additionally, it constitutes a major change in Iraqi policy. It shows that they are moving away from Western weapon systems, and the US defense contractors. (Yet another goal of Bush/Cheney that has turned into a fail)
So, the failure of the Neocon’s Iraq adventure continues to damage the interests of the United States.
Remember those stories about all those investors paying cash to acquire rental properties?
Remember how they were going into single family rentals?
Well, it looks like the rush for the door has begun:
A year ago, buying foreclosed homes to rent out was the sure-thing trade for investment firms backed by money from private equity companies, hedge funds and pension systems. But with the supply of cheap foreclosed homes dwindling, some early investors are looking to cash out a bit by flipping homes to competitors.
The Waypoint Real Estate Group, one of the first companies to raise money from private investors to buy foreclosed homes, is quietly shopping as many as 2,000 houses in California that it acquired in the last few years in several private investment funds, said three people who had been briefed on the matter but were not authorized to discuss it. The homes, which are largely rented, are being shown to other companies backed by investor money that have also scooped up distressed houses in states including Arizona, California, Florida, Georgia, Illinois and Nevada.
Waypoint is considering selling about half of its 4,000 homes. Some of the biggest institutional investors in the market for foreclosed homes — companies like the Blackstone Group, American Homes 4 Rent and American Residential Properties — have slowed their pace of acquisitions in response to an increase in home prices and a dearth of foreclosed homes that do not require significant renovation.
Waypoint is following other early investors like the Och-Ziff Capital Management Group and Oaktree Capital Management, which have sold homes bought near the start of the financial crisis. But unlike Och-Ziff and Oaktree, Waypoint is not leaving the single-family home market. It is still managing more than 7,000 homes for a publicly traded real estate investment trust, or REIT, it formed last year with the Starwood Capital Group called Starwood Waypoint Residential Trust.
Jason Chudoba, a spokesman for the trust and Waypoint’s management company, said the firm did not comment on market speculation.
The single-family home market, after a wave of acquisitions by companies backed by Wall Street money, is changing as institutional buyers now focus more on expanding their operations to manage tens of thousands of homes across the United States. Industry participants say that the rapid buying of foreclosed homes has ended and that they expect other early institutional buyers to sell homes to lock in profits. They say they also expect the business to consolidate into the hands of a few large companies.
So, the small operators are getting out, and the big operators, aka the too big to fail operators are doubling down, because they figure that they know better.
In a way, the TBTF players are right: When this comes tumbling down, the taxpayers will find a way to bail them out, yet again.
We are f%$#ed.
