for Wall Street and American capitalism, use your gut. You know something's very wrong: A year ago, too-greedy-to-fail banks were insolvent, in a near-death experience. Now, magically, they're back to business as usual, arrogant, pocketing outrageous bonuses while Main Street sacrifices, and unemployment and foreclosures continue rising as tight credit, inflation and skyrocketing federal debt are killing taxpayers.

Yes, Wall Street has lost its moral compass. It created the mess, but now, like vultures, Wall Streeters are capitalizing on the carcass. They have lost all sense of fiduciary duty, ethical responsibility and public obligation.

15 more clues capitalism lost its soul ... is a disaster waiting to happen
Much more evidence litters the battlefield:

Wall Street wealth now calls the shots in Congress, the White House

America's top 1% own more than 90% of America's wealth

The average worker's income has declined in three decades while CEO compensation exploded over ten times

The Fed is now the 'fourth branch of government' operating autonomously, secretly printing money at will

Since Goldman and Morgan became bank holding companies, all banks are back gambling with taxpayer bailout money plus retail customer deposits

Bill Gross warns of a "new normal" with slow growth, low earnings and stock prices

While the White House's chief economist retorts with hype of a recovery unimpeded by the "new normal"

Wall Street's high-frequency junkies make billions trading zombie stocks like AIG, FNMA, FMAC that have no fundamental value beyond a Treasury guarantee

401(k)s have lost 26.7% of their value in the past decade

Oil and energy costs will skyrocket

Foreign nations and sovereign funds have started dumping dollars, signaling the end of the dollar as the world's reserve currency

In two years federal debt exploded from $11.2 to $23.7 trillion

New financial reforms will do little to prevent the next meltdown

The "forever war" between Western and Islamic fundamentalists will widen

As will environmental threats and unfunded entitlements

It was the most expensive real estate deal in U.S. history. Now it's poised to become one of the biggest flops.

At the height of the real estate bubble in 2006, an investment group led by New York City real estate firm Tishman Speyer Properties and BlackRock Realty Advisors paid $5.4 billion for a pair of gigantic Manhattan apartment complexes known as Stuyvesant Town and Peter Cooper Village.

The price seemed outrageous to many, but the company believed it had a winning strategy: It would aggressively convert thousands of rent-regulated apartments occupied by middle-class families into luxury units that would fetch top dollar.

Three years later, to the glee of many New York renters, the tactic has been a bust.

Tenants fought back, conversions happened much slower than expected and a state court ruled Thursday that about $200 million in the company's new rent increases were improper.

Real estate analysts say the ownership group is now just two to three months away from a likely default on the $3 billion mortgage it used, along with a $1.4 billion secondary loan, to buy the property.

Foreclosure looms as a strong possibility.

Originally posted by Walkswithfish
OMG, could this be it?.... The beginning of the end?

Iowa City Police: Man Punches Another Man Who he Calls a 'Zombie'

www.foxnews.com...

IOWA CITY, Iowa — Iowa City police are investigating an early morning assault in which a man accused another of being a zombie, then punched him twice.

Police say the assault occurred at 1:17 a.m. Sunday at an Iowa City restaurant south of the University of Iowa campus.

A man was ordering food when he was approached by another man who called him a zombie, then hit him in the eye. When the victim tried to call police on his cell phone, the man punched him again, breaking his nose.

The man then ran out a back door.

Prepare for zombies!