Category Archives: Housing

How eminent domain defeats bankster mortgage fraud

ayla prehistoric slingshotBy Ellen Brown
Web of Debt

The Stone that Brings Down Goliath?
Richmond and Eminent Domain

In a nearly $13 billion settlement with the US Justice Department in November 2013, JPMorganChase admitted that it, along with every other large US bank, had engaged in mortgage fraud as a routine business practice, sowing the seeds of the mortgage meltdown. JPMorgan and other megabanks have now been caught in over a dozen major frauds, including LIBOR-rigging and bid-rigging; yet no prominent banker has gone to jail. Meanwhile, nearly a quarter of all mortgages nationally remain underwater (meaning the balance owed exceeds the current value of the home), sapping homeowners’ budgets, the housing market and the economy. Since the banks, the courts and the federal government have failed to give adequate relief to homeowners, some cities are taking matters into their own hands.

Continue reading

Advertisements

Portland occupiers block foreclosure eviction

Another Portland Homeowner Stands Strong Against Modern Redlining

By Pete Shaw
Portland Occupier

July 28, 2012

Story and Photos by Pete Shaw

When the clock ticks past midnight into Saturday July 28th the Multnomah County Sheriff will be able to enforce an eviction notice issued by the Circuit Court of Multnomah County on the house of Annette Steele of 4022 NE 14th Avenue. But Steele, her family, her friends, and her neighbors are not planning on her going anywhere.

Continue reading

Survival tips for the urbanite: Part 1 – Nuclear Radiation

By Rady Ananda
Activist Post

Though many survivalists like to prepare for TEOTWAWKI (the end of the world as we know it), joblessness and homelessness have led me to the end of the world as I know it. With coffee in hand, I opened the warehouse door of my temporary digs to greet the dawn. Only, it’s noon, there’s a downpour, and the smell of rubber from a pile of decomposing tires greets me. This marks Month 4 in New Orleans and two years since I was laid off.

In this vein, I finally started reading Mat Stein’s two survival books, When Technology Fails (2008) and When Disaster Strikes (2011). I also headed over to Jim Rawles’ Survival Blog and Mat’s website, whentechfails.com.

Instead of a lone-wolf, Mad Max world which plays well on film, Stein reasonably argues that individual survival relies on a community of like-minded folks. So plan your survival migration or shelter with room for your core group. The essential wisdom from both books and most survival websites is to plan a strategically sound survival budget, taking into account the climate of where you expect to be after you hit the road.

Few experts would call the US a failed or fragile state given to eco-migration, but most Americans already live in toxic zones, with our land, air and water being systematically poisoned by industry. New Orleans is only one of many areas suffering from hyper-industrialization and weather destruction. Locals call the corridor from here to Baton Rouge, “Cancer Alley.”

Thanks to Corexit and the Macondo Blowout (among hundreds of other oil “spills”), Gulf seafood is unfit for human consumption, and anglers and beachcombers are suffering from a host of health issues including respiratory failure. Birds, turtles, dolphins, and other sea life are dying in mass numbers or are showing up deformed, while federal agencies insist all is well.

I met a man who helped with the cleanup. The toxic brew severely damaged circulation in both his legs, leaving him wheelchair-bound. Grandmothers of the Gulf organizer, Laura Regan, insists her and her husband’s respiratory problems are from swimming in the Gulf after authorities promised the water was safe. She, along with most coastal residents, believe they are still spraying Corexit today. That may explain why the Louisiana Senate buried SB 97 in committee last year, which would have banned Corexit and any other oil dispersant not categorized as “Practically Non-Toxic.”

My romantic notion of sticking my toes in the famous Mississippi after I got here was sullied by the strong industrial odor wafting from the river. It sickened both of us who walked the levy that day.

All over the planet, giant multinational corporations are singly and jointly destroying the landbase for huge swaths of people, and New Orleans is no exception. Three major wars settled this area so that tens of thousands of oil wells could be built, right along with all the chemical and oil refineries, labs, agrochemical dumps, and the 25-year-old Waterford nuclear plant, 20 miles outside the city.

Because Fukushima radiated the Northern Hemisphere, because fracking releases rock-bound uranium that contaminates our local water table, and because I’m in Cancer Alley just miles from Waterford, this first essay focuses on nuclear survival.

Some nuclear survival tips are obvious. Dr John W. Gofman, a distinguished medical and nuclear scientist who worked on the Manhattan Project to develop the atomic bomb estimated in 2001 that 75% of US women who develop breast cancer get it from medical radiation. Simply refuse such tests, including airport body scanners.

When the US Supreme Court thwarted public will and handed Bush Florida, and thereby the presidency, we were led into 9/11 and nuclear war on the Middle East and Africa. Bob Koehler writes:

“Iraq Syndrome must include awareness of our toxic legacy, in particular the radioactive fallout resulting from exploding several thousand tons of depleted uranium munitions. Last year, the International Journal of Environmental Research and Public Health published a study of the devastated city of Fallujah, pointing out that, among much else, it is experiencing higher rates of cancer, leukemia and infant mortality than Hiroshima and Nagasaki did in 1945. And birth defects abound: ‘Young women in Fallujah are terrified of having children,’ a group of British and Iraqi doctors reported.”

Industrial civilization’s war on the environment is no less radioactive. The US hosts 25% of the world’s nuclear power plants, and even without incidents or accidents, they leak radiation into the local environment, as evidenced by the cancer clusters around nuke plants. Being in New Orleans, I’m exposed daily to whatever is dumped in the Mississippi, including leaking radioactive particles from the several nuke plants that dot its length.

Lest anyone believe health officials and nuclear energy proponents that the harm from Fukushima is minimal (and no longer poses a threat), all they need do is look at the Chernobyl casualties, where only one reactor was involved. Last year, researchers published their review of over 5,000 scientific articles and studies and concluded that a million people have succumbed to Chernobyl radiation. According to one source, the authors explain:

“Emissions from this one reactor exceeded a hundred-fold the radioactive contamination of the bombs dropped on Hiroshima and Nagasaki. No citizen of any country can be assured that he or she can be protected from radioactive contamination. One nuclear reactor can pollute half the globe. Chernobyl fallout covers the entire Northern Hemisphere.”

Fukushima lost four reactors, with three in complete meltdown, but pro-nuke officials from the World Health Organization on down promise thru lying teeth this poses little to no threat to our health or the environment. As Chernobyl showed, in 30 years, we can expect many Northern Hemisphere survivors to sport tumors and other cancers resulting from radiation-damaged DNA. We can only pray for the unborn, from those healthy enough to reproduce.

Expectedly, US officials also lied about the Three Mile Island nuclear disaster, while cancer rates jumped for those nearby. Richard Wilcox wrote an excellent article on all this that is well worth the read:

“Independent testing in Japan has revealed that fallout from the accident and ongoing accumulation has contaminated food supplies in the Northeast and Tokyo.”

From plutonium-laden fish, “the most toxic substance known in the universe,” to radioactive cesium in California tuna, Wilcox itemizes the destruction of our food supply. Radioactive fallout, of course, contaminates grazelands, meaning our milk and dairy products absorbed it, too.

All of us have cause, right now, to ensure our water and food is clean and radiation-free. All of us have sound reason to become survivalists.

Food and Water

Disaster migrants and the homeless can both learn from prepper wisdom, since many of the same principles apply. Urban migration survival requires mental clarity and agility; you gotta think on your feet most of the time, despite being emotionally and physically exhausted, and perhaps even injured. You can expect the government to completely fail at providing social services, as we saw with Katrina, where authorities blocked food, water and boat rescue.

Right now, Louisiana illegally withholds food stamps for the homeless, which by federal law must be provided within four days of applying for it. Instead, I was told by Ms Melvisson, Louisiana won’t give me food for a minimum of 17 days from the day I applied. The website is wrong, she says, when it promises food in four days. She also told me they outsource the magnetic cards to Texas. I have to presume the state doesn’t want the work despite an 8.5% unemployment rate, which really means about 20% or more, especially in New Orleans proper with all its wandering musicians, artists and street performers.

My own urban survival manual can’t publicize some survival tricks that are quintessentially my divine right, but which may be considered illegal. Dr John Glass, a sociology professor at Collin College outside Dallas, teaches experiential homelessness. He had this to say about urban poverty:

“I toured the ‘urban slum,’ and I could see how if I had to raise my kids in this setting I would steal. I would do whatever I had to do to survive. I never had that experience before.”

Food market grazing is one survival method. Watertight, bug-proof containers are a must, with a good supply of mixed nuts and dried fruits, or any healthy foods that don’t require refrigeration. I’ve become a big fan of big bags of carrots.

Another tip is to procure unfluoridated water that has been carbon filtered and run thru reverse osmosis. At 30 cents a gallon from the local food co-op, I drink much less of this than I should, but at least I’m getting some good water. My 3-gallon storage bottle is BPA-free, but not my 16-oz bottles. Maybe someone will donate so I can rectify that (though I’d prefer a job).

Preppers urge you to procure 5-gallon and larger water containers, but at 8 pounds a gallon, many women can’t physically haul that much water a long distance. And, if you’re on the move, haul weight is a survival factor that must be considered.

Stein covers surviving a nuclear disaster in both books, but dedicates an entire chapter in When Disaster Strikes. The last section of the book dedicates a chapter to each of several specific disasters like tornadoes, hurricanes, earthquakes, blizzards, and electromagnetic pulses. (In my next essay, I’d like to focus on EMPs, natural or otherwise.)

Radiation isn’t released into the environment only via nukes. In an earlier piece, I reported that geologist Tracy Bank found that fracking mobilizes rock-bound uranium, posing a further radiation risk to our groundwater. Because of some 65 hazardous chemicals used in fracking operations, former industry insider, James Northrup, calls it a “dirty bomb.” With 30 years of experience as an independent oil and gas producer, he explains:

“The volume of fluid in a hydrofrack can exceed three million gallons, or almost 24 million pounds of fluid, about the same weight as 7,500 automobiles. The fracking fluid contains chemicals that would be illegal to use in warfare under the rules of the Geneva Convention. This all adds up to a massive explosion of a ‘dirty bomb’ underground.”

What’s underground seeps into our groundwater. Disaster Strikes offers step-by-step instructions on filtering your water with soil, gravel, bucket and burlap, among many other specific instructions and suggestions.

The book also provides drawings for foragers – not only for edible plants, but medicinal ones, too, and recommends specific foraging books for your survival library.

Hank Shaw, author of Hunt, Gather, Cook, agrees with Stein in recommending Samuel Thayer for his color photographs of plants. Thayer has written two foraging books: Nature’s Garden and The Forager’s Harvest. Shaw’s top 3 (out of 11) recommendations all come from Euell Gibbons:

* Stalking the Wild Asparagus
* Stalking the Blue-Eyed Scallop
* Stalking the Healthful Herbs

Once you have access to a steady food and water supply, be sure it’s safe.

Dr Perlingieri suggests adding 2 tablespoons of raw apple cider vinegar to each gallon of water. Not only does this provide flavor, but it also aids in digestion. She also lists several immune-boosting foods, as long as they are not radioactive. See also Melissa Patterson’s Supplements Shown to Help Prevent Effects of Radiation Fall-Out, and Protocols for Nuclear Contamination – Master List.

Hawaii organic growers suggest washing your fruits and vegetables in bentonite clay, and using Boron “to capture radioactivity on our soils, gardens, orchards, etc. It also can be safely ingested by humans and animals. Boron will accept radiation and ionize it within our bodies, after which our bodies will safely [excrete] the boron and radioactivity.” (Borax is also good at killing roaches, which are ubiquitous in the urban setting.)

Hygiene

No matter the cause of your sudden homelessness, the need for good hygiene closely follows the need for clean food and water. Stein’s books list the items needed in your First Aid kit, and provide an expanded version for “long emergencies” when you may not be able to return to your home.

For urban migrant survival, friends recommend Street Smarts, though not published at a big house. I’d like to read it, and see how much of what I do is mentioned. Like hygiene ~ get it while you can when the facilities are clean, be extra careful when they’re not. In the summer, use fast drying shirts that you can easily wash and wear.

In a hot climate, you’ll need a sweat rag for your face, one that you wash as often as feasible, because face- and clothes-washing is now a luxury dependent on the generosity of others. You’ll also have to plan your wash for when you can hang things to dry. I use a 22″ rag that I thoroughly wet and roll up, for draping around my neck. Its length allows me to also swab my face as needed.

If injured, hygiene becomes the priority. I stepped in one of New Orleans’ foot-deep potholes and donated 5 square inches of skin to the city. I couldn’t soap it until the library opened 12 hours later. The trick to no infection was the warm soapy scrub three times a day, though I also scored some prescription skin salve. The skin has already regenerated, while the bruised ankle is still healing.

Prudence requires everyone to ‘know the exits’ and have the knowledge and tools to get there. Preppers, at the minimum, are prudent. Once a month, urges Mat Stein, you and your family should read, study and discuss a single chapter on survival preparedness. It’s also prudent not to jump in with your wallet wide open. Simple, inexpensive purchases can be made now, but long-term economical purchasing takes planning.

I’d do a hell of a lot better if I had raw milk, but Louisiana criminalized it, blocking me from its probiotic benefits. Big Pharma and Big Dairy sure get their share, simply by criminalizing the competition.

Road Income

Citing an uptick in survival sales, Activist Post opened 2012 with its recommended articles on the topic. One suggests becoming economically independent of the system by monetizing your blog, becoming a picker (old junk, new street corner), or growing or making your own and selling it to local co-ops and other markets. AP itself came up with simple steps to be taken this year that include building economic independence, promising that, “prosperity awaits for those who can properly analyze the landscape and seek new opportunities and alliances.”

Charge $10 an hour and a dollar a mile to be a taxi, if you must, and your shocks are good. The Submerged Roads project is ongoing seven years post-Katrina. It’ll never end, though, because paving over swampland that endures an annual hurricane season ensures pothole proliferation.

During recent flooding, a car drove thru 6” of water until the road collapsed, taking out his axle. One related tip is not to drive on flood-damaged roads, and another is to keep your spare car key in your wallet.

The homeless, more than any other group, employs the axiom, “reuse, recycle, restore,” and if your body odor isn’t too strong, you might even be able to resell some of the stuff.

Study, Train and Practice

Stein hammers at conventional survival wisdom: Read, study, train and practice. What’s between your ears, he says, is more important than your gear. We need to be as proficient at providing sustenance as the tribes who’ve lived sustainably for tens of thousands of years.

Fat chance you can do that in the city, but there might be some gems in wildman Steve Brill’s Identifying and Harvesting Edible and Medicinal Plants in Wild and Not So Wild Places, which Stein recommends. A list of edible and medicinal urban plants can be found here. And here’s a recipe for pigweed, which is proliferating in the south now that the plant developed resistance to Monsanto’s RoundUp. I wanna try it.

I like how Stein organized When Disaster Strikes, in three concise sections, but prefer the older book, When Technology Fails, for a number of reasons. For one, it’s 100 pages longer. The book is also bigger (11.5×8″ vs 9×6″). Because it’s bigger, so are the pictures. If I ever have to have actually construct my own shelter, I’ll be pulling out WTF instead of WDS.

Climate and peak oil skeptics might choke on Stein’s reasons for disaster preparation, and anyone who knows anything about HAARP or weather modification won’t find any reference to government-directed natural disasters. Regardless, Stein provides well-organized, detailed information on what a new prepper needs to know and do to survive catastrophe.

My task for August is to identify and procure edible weeds. I’d also like to try the solar water filtration gizmo, if I can find a clear plastic bottle that is BPA-free.

Rady Ananda is the creator of Food Freedom News, whose work has appeared in several online and print publications, including four books. She holds a B.S. in Natural Resources from The Ohio State University’s School of Agriculture (2003). She is LinkedIn and tweets her own work from @RadysRant; while tweeting both hers and others’ from @geobear7.

Support Rady’s work by donating to her directly – HERE.

Read other reports by Rady Ananda HERE.

You can support these survival tips by voting on Reddit HERE

Anti-Empire Report on Gaddafi, psychopathic empire and sick media

By William Blum
Anti-Empire Report

It doesn’t matter to them if it’s untrue. It’s a higher truth.

“We came, we saw, he died.” — US Secretary of State, Hillary Clinton, giggling, as she spoke of the depraved murder of Moammar Gaddafi

Imagine Osama bin Laden or some other Islamic leader speaking of 9-11: “We came, we saw, 3,000 died … ha- ha.”

Clinton and her partners-in-crime in NATO can also have a good laugh at how they deceived the world.

Continue reading

Nevada Makes Illegal Foreclosures Felony

By Mike Colpitts
Housing Predictor

Responding to homeowner complaints, Nevada has become the first state in the nation to make illegally repossessing a home a felony, and cash may send bankers to jail for doing such. The new law was enacted after tens of thousands of homeowners complained to lawmakers about their homes being foreclosed without proof of ownership.

The outcry of consumer complaints over illegal robo-signing tactics has produced a series of lawsuits against mortgage servicing companies and banks in Nevada, which has led the U.S. in foreclosures six straight years.

The Nevada law makes it a felony for a mortgage servicer or trustee of a mortgage to make false representations concerning a title such as claiming that they are an executive of a bank or mortgage servicer, which was the case in at least hundreds of thousands, perhaps millions of robo-signings.

Continue reading

Revulsion, resistance & angry words from Tripoli University

By Franklin Lamb
The Peoples Voice

The people I had hoped most to be able to find upon returning to Libya were eight students from Fatah University (now renamed Tripoli University) who became my friends during three months in Libya this summer. They had all been strongly opposed to what NATO was doing to their country (NATO bombs destroyed some classrooms at the University during final exams in late May) and I was very keen to sit with them again if possible since the August 23rd fall of Tripoli when most of them scattered given the uncertainties of what would happen and we lost contact.

Thanks to Ahmad who was waiting for me we re-united quickly. Some excerpts and impressions from yesterday’s all night gathering with Ahmad, Amal, Hind, Suha, Mohammad and Rana:

“I know Sanad al-Ureibi”, Ahmad said disgustedly about the 22 year old who is claiming he fired two bullets at close range into Muammar Gadhafi on October 22nd.

Continue reading

VA illegally forecloses on veterans

By Torrey Shannon
Huffington Post

It appears the Veteran’s Administration has been flying under the radar when it comes to their contribution to the homeless veteran population. Due to a backlog in processing thousands of disability claims, military members and their families are forced to live on the streets because of foreclosures and are heading into bankruptcy courts at an alarming rate.

Most of the wounded veterans I know have waited more than six months to get their first disability check from the VA after leaving the military. By the time they got their first payment from the VA, they were bankrupt or had lost their home to foreclosure.

Continue reading

Declaration of the Occupation of New York City

By New York City General Assembly

This document was accepted by the NYC General Assembly on September 29, 2011:

As we gather together in solidarity to express a feeling of mass injustice, we must not lose sight of what brought us together. We write so that all people who feel wronged by the corporate forces of the world can know that we are your allies.

As one people, united, we acknowledge the reality: that the future of the human race requires the cooperation of its members; that our system must protect our rights, and upon corruption of that system, it is up to the individuals to protect their own rights, and those of their neighbors; that a democratic government derives its just power from the people, but corporations do not seek consent to extract wealth from the people and the Earth; and that no true democracy is attainable when the process is determined by economic power. We come to you at a time when corporations, which place profit over people, self-interest over justice, and oppression over equality, run our governments. We have peaceably assembled here, as is our right, to let these facts be known.

Continue reading

Occupy Wall Street: Macing Protesters, Chris Hedges and Michael Moore

Olbermann interviews Michael Moore who says, “I think there needs to be a multi-pronged approach” urging civil disobedience locally as well as nationally, and refusing to move out under a foreclosure notice since no one owns your mortgage any more.  “The banks lost them,” he says, when they bundled them into their little Ponzie schemes.

Continue reading

Ethnic cleansing as Irish gypsies face forced eviction from UK’s Dale Farm

By Rady Ananda

At least 86 families, comprising 400 people known as Travelers, or gypsies, today face armed eviction from their landing site in Crays Hill, Essex in the United Kingdom.

UPDATE: Dale Farm residents have won a last-gasp injunction restraining Basildon Council from clearing structures from the site pending a further hearing at London’s High Court on Friday. (Details below)

Continue reading

DOJ Ignores Kickbacks to Banks from Mortgage Insurers

More Proof of DoJ Lack of Interest in Enforcing the Law: The Case of the Kickback-Demanding Banks

By Yves Smith
Naked Capitalism

In this world of rampant banking miscreance, it may seem hard to get worked up about $6 billion in impermissible kickbacks. But this is a case of a clear-cut legal violation, with the particulars sent to the Department of Justice by the HUD Inspector General’s office on a silver platter. And one of the alleged big bad actors was the ever-sanctimonious Wells Fargo.

American Banker has a detailed write-up of a kickback scheme between major banks who were mortgage originators, in particular Wells, Citigroup, Countrywide, and SunTrust and mortgage insurers.

Continue reading

Libya Truth – Life under Gaddafi (video)

Free healthcare, free education, free housing, water to the desert (which NATO destroyed) and much more…

Continue reading

200 Neighbors block eviction of Brooklyn 82-yr-old

You won’t evict this grandma

Mary Lee Ward emerges from a New York City courtroom after learning her eviction was haltedMary Lee Ward emerges from a New York City courtroom after learning her eviction was halted

By Alexander Super
Socialist Worker

MORE THAN 200 community members, activists and supporters blockaded Mary Lee Ward’s home in the Bedford-Stuyvesant neighborhood of Brooklyn on August 19 to prevent an eviction of the 82-year-old African American grandmother.

Continue reading

Corrupt Obama Admin Pressures NY Attorney General to Support Mortgage Whitewash

By Yves Smith
Naked Capitalism

It is high time to describe the Obama Administration by its proper name: corrupt.  The latest example is its heavy-handed campaign to convert New York state attorney general Eric Schneiderman to a card carrying member of the “be nice to our lords and masters the banksters” club.

[Image: Kathryn S. Wylde, New York Federal Reserve Board Member]

(Also see today’s TRNN interview of Yves Smith, “Should banks be a public utility?“)

Continue reading

Class War in Israel: Police assault protestors with horses; arrest them

By The Real News Network

Tens of thousands of Israelis poured onto the streets in Tel Aviv to protest rising commodity and housing prices and stagnation in salaries.

Continue reading

Scalia Sets Standard for Massive Mortgage Fraud Class Action Law Suit

Citing recent Supreme Court decisions as well as Executive Orders issued by Presidents Bush and Obama, Michael Collins looks closely at the fraudulent Mortgage Electronic Registration System, showing a pattern of judicial and executive corruption.


By Michael Collins

There hasn’t been much in the way of justice for the average citizen for quite a while. Often, those accused of crimes cannot afford adequate representation and are subject to “let’s make a deal justice.” If you’re unfortunate enough to be sued or party to a divorce proceeding, you soon learn that the court system is an entitlement program for attorneys, not a civilized means of settling disputes. (Image)

The last decade has been devastating for what many thought were inviolable fundamental rights.

Continue reading

Sweet Justice! Florida couple forecloses on Bank of America

By CBS News

Collier County, Florida — Have you heard the one about a homeowner foreclosing on a bank? Well, it has happened in Florida and involves a North Carolina based bank. Instead of Bank of America foreclosing on some Florida homeowner, the homeowners had sheriff’s deputies foreclose on the bank.

Continue reading

WE’RE #1, WE’RE #1! Charting American Exceptionalism

By Joe Weisenthal
Business Insider

Is America the exceptional, #1 country in the world? Of course it is!

David Morris of the Institute for Local Self-Reliance has published the truth about American exceptionalism. It turns out, the US is #1 in all sorts of ways.

Continue reading

ForeclosureGate Deal – The Mandatory Cover Up

By Michael Collins

The Federal government is about to settle the ForeclosureGate affair, according to a report in the New York Times on April 9. The Times noted that twelve million homes will be lost by 2012. Home equity values are down by $5.6 trillion since the real estate crash.

The draft agreement released to American Banker shows another corporate-friendly deal designed to maintain the incumbent perpetrators at the expense of the people. (Image: zoonabar)

The proposed settlement culminates an effort by federal prosecutors to address strongly supported allegations of widespread mortgage fraud perpetrated on as many as sixty percent of current mortgage holders. Homeowners were sold mortgages, serviced for the loans, and, in some cases, subjected to foreclosure and eviction based on fictional contracts and collections practices that violate the most basic principles of contract law and specific federal code pertaining to fraudulent debt collection.
Continue reading

The Peasants Need Pitchforks

By Robert Scheer
TruthDig

A “working class hero,” John Lennon told us in his song of that title, “is something to be/ Keep you doped with religion and sex and TV/ And you think you’re so clever and classless and free/ But you’re still fucking peasants as far as I can see.”

The delusion of a classless America in which opportunity is equally distributed is the most effective deception perpetrated by the moneyed elite that controls all the key levers of power in what passes for our democracy. It is a myth blown away by Nobel Prize winner Joseph E. Stiglitz in the current issue of Vanity Fair. In an article titled “Of the 1%, by the 1%, for the 1%” Stiglitz states that the top thin layer of the superwealthy controls 40 percent of all wealth in what is now the most sharply class-divided of all developed nations: “Americans have been watching protests against repressive regimes that concentrate massive wealth in the hands of an elite few. Yet, in our own democracy, 1 percent of the people take nearly a quarter of the nation’s income—an inequality even the wealthy will come to regret.”

Continue reading