Everybody now knows that the hedge fund at the center of the Goldman Sachs SEC complaint, Paulson & Co., made a fortune by selecting credit default obligations made up of high risk mortgages. What is less well known is how Paulson picked mortgages. The Wall Street Journal reports: “According to the SEC complaint, [Paulson and Company head John] Paulson especially wanted to find risky subprime adjustable rate mortgages that had been given to borrowers in California, Arizona, Florida, and Nevada—states with big spikes in home prices that he reckoned would …
What happens when liberals are able to take over an entire city and implement all of their dream policies, many of which they claim will help average Americans from the bottom up? The middle class disappears, that’s what happens. In the past decade, San Francisco has implemented universal health care, enforced smart growth policies, raised the minimum wage to $8.50, and implemented a carbon tax on businesses. The result: Many worry it’s increasingly turning San Francisco into an enclave of the rich, where nurses, firefighters, cops, teachers and other professionals …
