Jumat, 18 November 2011

NYPD Police Brutality Against NYC Council Member at Occupy Wall Street

police brutality OWS Occupy Wall StreetSomething great happened on the way to Occupy Wall Street. He was a Hispanic citizen of New York City, and he wanted to see what was going on down there. He had received a call from a protestor, desperately pulling him to observe the brute force with which the city was “cleaning house.” His wife, who was counting on him to make his daughter’s college application interview, begged him, “Please, just don’t get arrested.” He reassured her that of course he would not get arrested. After all, who would arrest him?

advocacy for poorOur founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

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NYPD Police Brutality Against NYC Council Member at Occupy Wall Street (OWS)



He arrived and purposefully avoided the crowd to keep out of harm’s way, his wife’s words echoing in his mind. He walked across the street on Broadway, where he said there were no protesters. He approached police officers and told them who he was and asked to have closer access to the situation. They denied him initially, but he wanted to make sure they knew who he was, because that should matter. They would not even open their ears as they pushed him with brute force, using batons, and treating him like a common criminal. That’s when one officer acted on a sort of passion; he was apparently pretty psyched up for the day, his chance to bust some heads I suppose.

New York City Council Representative Ydanis RodriguezCity Council Representative Ydanis Rodriguez was forced to the ground, with his head repeatedly smashed against it. After giving him some of the business that little men with small voices take daily, the cocky cops arrested him too. They would have nothing to do with his pleas. With the same disrespect that they first faced him, they forced him into a police van and let him sit there bleeding for two hours. It was 13 hours before he was allowed to speak with an attorney, and 18 hours before his ordeal ended and we could learn about it. Here’s Representative Rodriguez’s personal account of the ordeal:

"They kept pushing," Rodriguez said. 'The force was so strong when they were pushing me. Then suddenly a police officer jumped from the middle of the street. He threw his body in front of me and started hitting my head on the street. ... I was assaulted by NY police officers." The police account of the confrontation was quite different than the respected representative’s view. The police complaint filed against him, which includes a count of resisting arrest, alleges: Rodriguez walked up to metal barriers on the southeast corner of Maiden Lane and Broadway and declared he was going to go through. When an officer told him he could not proceed, he said he would anyway, and made contact with a female police officer--knocking her of balance. Like any poor sucker from 125th street and up, who gets caught up at the wrong place at the wrong time knows, and as Rodriguez’s attorney stated, “the complaint is a product of fiction.”

Representative Rodriguez wasn’t alone that day, as countless others were arrested matter of factly like him and with disregard for American law and human rights. Also, the incident itself is not an isolated one to the day only. It happens daily in New York City and probably in other cities across the country as well. It is in fact a problem that I want to use this example to expose very clearly. I want you to remember it, because some day, this same injustice could happen to you when you are deemed by your protectors and maybe even legislators as a threat for simply voicing your opinion, which is your American right. Don’t you forget that!

And if it happens to you, and you are not a public figure, you will find it much more difficult to overcome than Representative Rodriguez. It will do more than just spoil your day. It can effectively ruin you, especially if you are poor and can’t afford good legal defense. You may have to accept a plea deal, admitting to doing something that is a complete lie just to more economically escape the ordeal. How would this record affect the rest of your life, one in which employers have a large pool to choose from that includes people without such an incident.

This is what many Americans face daily and it is a form of persecution, and it is unfair! A pool of mostly minorities is buried by this system, this free license the police have to lie and to arrest on a whim; it is an injustice they apply in the name of justice. You see, police officers are only men, as faulty as any other man, believe it or not.

In their defense, each morning they go to work knowing it could be their last day. Each “call” they make could bring upon them an assailant determined to take their life. And so they enter situations with that in mind. It affects them and how they work. However, they have also allowed an improper mentality to dictate how they approach every situation. There are instances, like the one we’re discussing today and even less intense situations, in which a certain evil overcomes them and they dictate what is right and what is wrong, and abuse their power.

This has to change, and it will only change when public figures stop defending the police, which they do with reckless abandon against human rights. In this case, the Deputy Mayor took to the defense of the police officers, even against the clear report of the distinguished representative. If he could dare to do so in this instance even, then what does a police officer have to fear. The system has his back, and he can do no wrong. He is the God of the street. Instead, the system of checks and balances needs to be enforced. It is a privilege to be a police officer, and there is a long line of unemployed people willing to take the job. We’re not doing anybody any favors by giving free reign to brutality.

In Greece, when a police officer shot an unarmed teenager at point blank range a few years ago, every teenager and almost everybody else stormed to the streets and set fire to them. They burned down police stations even, and they forced the government to review the police officers involved and the entire system. Is that what it’s going to take here? I think none of us wants that, but some sort of pressure must be applied to the government to ensure the proper and fair enforcement of power.

Thus, this great injustice served to a representative of the government is a sort of blessing. He has witnessed firsthand what happens to the little men of New York City daily. We hope that Representative Rodriguez, enriched with this wisdom, will help to restore order to the NYPD, because he is in a position (and it seems chosen) to make a difference for all of us.

Voice your opinion about Occupy Wall Street here.

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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News Links 11-18-11

news linksThe day's most interesting and significant news links follow here below. This is a daily service we provide, selecting what we see as the most pertinent news links of the day for our readers. This way, we ensure that even if we haven't covered it, you know about it.

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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Kamis, 17 November 2011

Dark Clouds Loom Over Real Estate Horizon

dark cloudsThe last two days’ housing data offered a positive tone, but we reiterate our cautionary stance. Our reasoning for real estate investors to view current activity with caution has all to do with our view for tomorrow. We think the tone of the next year (to decade) will reflect a new and more biting, and deeper, recession than the last. The result of such a scenario would not save housing, though the inflation we should see would support real estate holders’ wealth and offer the intangible we under value now, shelter.

pessimistOur founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

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Dark Clouds Loom Over Real Estate



The Housing Market Index was reported Wednesday and Housing Starts were reported Thursday, each offering its own version of good news. Of course, that “good news” was only so on a relative basis, as the data continues to reflect a horrible day on an absolute measure. Housing stocks were enthused on the news Wednesday, with the group of shares we watch, including Toll Brothers (NYSE: TOL), K.B. Homes (NYSE: KBH), Beazer Homes (NYSE: BZH), D.R. Horton (NYSE: DHI), Lennar (NYSE: LEN), Hovnanian (NYSE: HOV), Pulte Homes (NYSE: PHM), NVR Inc. (NYSE: NVR), MDC Holdings (NYSE: MDC), Ryland Group (NYSE: RYL), Meritage Homes (NYSE: MTH), Brookfield Homes (NYSE: BHS), Standard Pacific (NYSE: SPF), M/I Homes (NYSE: MHO), Orleans Homebuilders (AMEX: OHB) each rising. But, despite a solid data follow up Thursday, the stocks soured into the close. That had everything to do with reality, and the really bad looking clouds that we see on our economic horizon, not to mention the geopolitical vista.

The Housing Market Index, which is a measure of the mood of homebuilders, improved three points to a mark of 20. Such a spirited move could not be ignored by housing investors, since they figured it must reflect better business, which should eventually be noted in EPS results. That three point gain was the second consecutive of its sort, adding further impetus to homebuilder investors. But the absolute value at 20, deeply under the water mark of neutrality which is set at 50, still reflects dire circumstances. We covered this report in depth in our article, Home Builders and Their Shareholders are Drinking the Kool-Aid.

Similarly, markets have been pleasantly surprised by renewed growth in home sales during the second half of this year. That’s pathetic in my view, as I’ve been foretelling of this turnaround since the beginning of 2011. It’s simple math really. A low bar was set post the expiration of government incentive programs, and so it is now easily surmounted in this comparable period. Yet, homebuilders, who we suspect don’t read us often, also appear to be buying into this “surprise,” as reflected in their more positive (though still sad) perspective.

Housing Starts, reported Thursday for the month of October, also offered enthusing data despite the annual rate of Starts drifting 0.3% below September’s revised mark. In reaching 628K, the result far exceeded the expectations of economists surveyed by Bloomberg, who had set their consensus view at 605K. Moreover, Starts of single-family homes, which are seen as the purest measure of the home market, increased 3.9%. And, of course, when compared to the prior year period, Starts advanced 16.5%. Adding to the flow of good news, Building Permits filed for October exceeded September by 10.9%. This is a forward looking indicator, and so the outlook is enthusing.

So, then, why do you suppose housing stocks were lower Thursday? It had everything to do with the economy. Fitch’s report, which warned that U.S. banks were at risk of catching the fever that haunts Europe, stopped dead in its tracks all Wall Street hope. Indeed, I agree, and I see most of our supports falling out from underneath us. To name a few…

Our Federal Reserve fuel tanks, which kept us cruising on little natural reason, are running dry now. Meanwhile, our nascent manufacturing renewal should run out of steam as China also inevitably feels the effects of the global slowdown and discovers it has a few asset bubbles of its own. Regarding our manufacturing slippage, that’s in the cases where China does not already compete against us after copying technology and process, as in the solar industry. The global nature of this crisis, with softness (to be kind) across its surest consumer markets (U.S., Europe and Japan), despite the latest miraculous period of modest economic growth, puts all participants in the hole, including the BRIC nations, believe it or not.

I do not believe our consumer debt problems, now shifted to the public sector, will be escaped. That Great Depression Capitol Hill and Ben Bernanke are so proud of evading may only have been pushed forward. I expect this will be understood as history unfolds.

Housing would not escape a dip again into recession, especially the sort of economic environment depicted above. Homebuilders will not thrive in such a day, but homeowners may find an ironic source of solace. That underwater mortgage may yet swim again, because the demise of the dollar will give it buoyancy.

Editor's Note: Article should interest investors in Investors Title (Nasdaq: ITIC), Bank of America (NYSE: BAC), Freddie Mac (OTC: FMCC.OB), Fannie Mae (OTC: FNMA.OB), Goldman Sachs (NYSE: GS), Morgan Stanley (NYSE: MS), Wells Fargo (NYSE: WFC), Toronto Dominion (NYSE: TD), UltraShort Real Estate ProShares (NYSE: SRS), Ultra Real Estate ProShares (NYSE: URE), ING Clarion Global Real Estate Income Fund (NYSE: IGR), Xinyuan Real Estate Co. (NYSE: XIN), Rydex Real Estate Fund H (Nasdaq: RYHRX), T. Rowe Price Real Estate Fund (Nasdaq: TRREX), Toll Brothers (NYSE: TOL), Hovnanian (NYSE: HOV), D.R. Horton (NYSE: DHI), Beazer Homes (NYSE: BZH), Lennar (NYSE: LEN), K.B. Homes (NYSE: KBH), Pulte Homes (NYSE: PHM), NVR Inc. (NYSE: NVR), Gafisa SA (NYSE: GFA), MDC Holdings (NYSE: MDC), Ryland Group (NYSE: RYL), Meritage Homes (NYSE: MTH), Brookfield Homes (NYSE: BHS), Standard Pacific (NYSE: SPF), M/I Homes (NYSE: MHO), Orleans Homebuilders (AMEX: OHB), Vanguard REIT Index ETF (NYSE: VNQ), PNC Bank (NYSE: PNC), J.P. Morgan Chase (NYSE: JPM), Hooker Furniture (Nasdaq: HOFT), Ethan Allen (NYSE: ETH), Pier 1 Imports (NYSE: PIR), Williams Sonoma (NYSE: WSM), Home Depot (NYSE: HD), Lowes (NYSE: LOW), Nasdaq: XNFZX, Nasdaq: FSAZX, Avatar Holdings (Nasdaq: AVTR), Apartment Investment & Management (NYSE: AIV), Equity Residential (NYSE: EQR), Avalonbay Communities (NYSE: AVB), UDR Inc. (NYSE: UDR), Essex Property Trust (NYSE: ESS), Camden Property Trust (NYSE: CPT), Senior Housing Properties (NYSE: SNH), BRE Properties (NYSE: BRE), Home Properties (NYSE: HME), Mid-America Apartment (NYSE: MAA), Equity Lifestyle Properties (NYSE: ELS), American Campus Communities (NYSE: ACC), Colonial Properties (NYSE: CLP), American Capital Agency (Nasdaq: AGNC), Sun Communities (NYSE: SUI), Associated Estates (NYSE: AEC), PennyMac Mortgage (NYSE: PMT), Two Harbors (AMEX: TWO), Simon Property Group (NYSE: SPG).

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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