Daily Archives: December 13, 2015

San Francisco Housing Bubble Goes Subterranean: $500/Month To Live In A Crawlspace

Unbelievable and sad….

While housing bubbles around the world are imploding from a sudden withdrawal of foreign capital (most recently exposed in Manhattan’s 9-year high vacancy rate) there is still an excess of greater fools clinging to their unicorn dreams in the Bay Area to keep San Francisco home prices exuberant and rental costs through the roof… or in the case of thisunbelievable Craigslist offering – through the floor…

Located just off the intersection of Pine and Divisadero (a nice area of the city)

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There is this gem..

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Read on.

Possible rate hike sends Wall Street into a tailspin

Wall Street is starting to get cold feet again about the Fed.

The markets capped off their worst week since a global rout in August — with pain felt across stocks, bonds, oil and currencies — as anxiety grows over a possible rate hike ahead of the Federal Reserve’s meeting next week.

The Dow Jones industrial average fell more than 309 points, or 1.7 percent, to 17,265.21 on Friday.

The Standard & Poor’s 500 index lost 39.86 points, or 1.9 percent, to 2,012.37.

Stocks are down more than 3 percent for the year, with 13 trading days left to go.

Read on.

German Regulator Won’t Publish Deutsche Bank Libor Report Before End January

FRANKFURT–Germany’s financial markets regulator, BaFin, is likely to publish its final report about its findings over the key reference rate Libor manipulation scandal at the beginning of January at the earliest, according to two people with knowledge of the matter.

Accusations against former executives of Deutsche Bank remain but the report hasn’t yet been completed, said one of the people.

BaFin has accused Deutsche Bank’s six former executives of not preventing alleged market manipulations for years, according to a letter seen and published by The Wall Street Journal in July. According to the accusations, the former executives were criticized for negligent oversight and selective or inaccurate disclosures to regulators that were investigating manipulation of the London interbank offered rate, or Libor, and other market benchmarks.

The financial markets supervisor has never accused the former executives of personal involvement in the manipulations. BaFin inspector Raimund Röseler said in an interview with The Wall Street Journal in April 2013 that “We haven’t found any evidence of systematic crime involving management board members,” and he has reiterated this on various occasions since.

Read on.