FICRY

Just in case you were a little bit fuzzy about how the whole debt-shifting, executive-compensating, tax-payer-scamming bailout is working, here comes Gawker with a handy little embellished chart and an explanation of just one of the many ways your tax dollars are being flushed down the gilded toilet.
As Gawker details in the tongue-in-cheek “Your Tax [...]

It is clear from the plethora of bad news about the real estate situation across the United States that no place and no island, is safe from the effects of our recession.  The latest tale of riches to rags comes from The New York Times online front page, reporting on the New England luxury island, [...]

Williamsburg, Brooklyn, has grown to be one of the trendiest locations in all of New York City.  In the past years developers have poured money into the area, building high-rise condos for some of the most obscene prices east of the FDR.  You are not alone if you wondered when this rapid gentrification would come [...]

Writing for the Wall Street Journal, Stan Liebowitz reports that prime, and not subprime loans led to the mortgage crisis. Liebowitz, professor of economics and director of the Center for the Analysis of Property Rights and Innovation  at the University of Texas, Dallas, analyzed national databases containing millions of individual loans for his feature. He [...]

Today may be a truly a sad day for some American towns–no money for the absolutely necessary July fourth accessory, fireworks! Instead of celebrating our nation’s independence, the lack of money for celebration reveals dependence on our currently crummy financial system. The list of towns includes many places that have been hit hard by the [...]

Sienna Miller has become the latest victim of the FICRY slump in the property market. The actress has dropped £300,000 off the asking price of her London home after it failed to sell for five months, putting it below the £1million mark. Sienna, 27, faces taking a financial hit in excess of £200,000 even if [...]

Newsflash: that tent on your friend’s back lawn is still a better option than the Manhattan dog-kennel-sized studio you turned down for $3000 a month one year ago. The only difference now is that you don’t have to be embarrassed about it. Yes, the tides have turned, people, to the point where an enterprising college [...]

The amusement park company Six Flags is seeking Chapter 11 bankruptcy protection, saying it needs to reorganize and shed $1.8 billion of debt. Mark Shapiro, the New York-based company’s chief executive officer, says the move won’t affect the operation of its 20 theme parks in the U.S., Mexico and Canada. Six Flags says it actually [...]

In the midst of a national financial crisis, emergency suppliers and retailers have experienced an almost 50% increase in sales. Water filters, thermal blankets and emergency food are flying off of the shelves. And who’s buying these emergency supplies? Just your average surbanites or urban professionals with growing, apocalyptic fears of what the crisis may [...]

One of the biggest markets hit by the recession is the high end leisure sector. Today one of the largest luxury resorts in California’s Orange County, the St. Regis, revealed that it was deep in debt- nearly $70 million- and was heading to the auction block.The resort was symbol of  boom time corporate excess. It was the location of [...]