{"id":180547,"date":"2017-03-18T21:31:00","date_gmt":"2017-03-19T02:31:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2017\/03\/18\/and-the-taxpayer-will-end-up-paying-for-this\/"},"modified":"2017-03-18T21:31:00","modified_gmt":"2017-03-19T02:31:00","slug":"and-the-taxpayer-will-end-up-paying-for-this","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2017\/03\/18\/and-the-taxpayer-will-end-up-paying-for-this\/","title":{"rendered":"And the Taxpayer Will End Up Paying for This"},"content":{"rendered":"<p>It looks like Wall Street is <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2017-03-13\/wall-street-has-found-its-next-big-short-in-u-s-credit-market\">looking to capitalize on the collapse of the American Mall for its next speculative cash cow<\/a>:<\/p>\n<blockquote><p><span style=\"color: blue;\">Wall Street speculators are zeroing in on the next U.S. credit crisis: the mall.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">It\u2019s no secret many mall complexes have been struggling for years as Americans do more of their shopping online. But now, they\u2019re catching the eye of hedge-fund types who think some may soon buckle under their debts, much the way many homeowners did nearly a decade ago.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">Like the run-up to the housing debacle, a small but growing group of firms are positioning to profit from a collapse that could spur a wave of defaults. Their target: securities backed not by subprime mortgages, but by loans taken out by beleaguered mall and shopping center operators. With bad news piling up for anchor chains like Macy\u2019s and J.C. Penney, bearish bets against commercial mortgage-backed securities are growing.<\/span><br \/><span style=\"color: blue;\"><br \/><\/span><span style=\"color: blue;\">In recent weeks, firms such as Alder Hill Management &#8212; an outfit started by prot\u00e9g\u00e9s of hedge-fund billionaire David Tepper &#8212; have ramped up wagers against the bonds, which have held up far better than the shares of beaten-down retailers. By one measure, short positions on two of the riskiest slices of CMBS surged to $5.3 billion last month &#8212; a 50 percent jump from a year ago.<\/span><\/p><\/blockquote>\n<p>If history is any guide, they will make out like raped apes, and the rest of us will be left holding the bag.<\/p>\n<p>I don&#8217;t know how exactly they will f%$# the rest of us, but history shows that their profits are financed by our money.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It looks like Wall Street is looking to capitalize on the collapse of the American Mall for its next speculative cash cow: Wall Street speculators are zeroing in on the next U.S. credit crisis: the mall.It\u2019s no secret many mall complexes have been struggling for years as Americans do more of their shopping online. But &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[365,368,364,456],"class_list":["post-180547","post","type-post","status-publish","format-standard","hentry","tag-business","tag-corruption","tag-evil","tag-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/180547"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=180547"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/180547\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=180547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=180547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=180547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}