Shadowproof

Buy Low Sell High: Standing Room Only At Christie’s, Again

Any of you thinking of buying an $80 million Monet need to arrive early. Standing room only crowds at Christie’s in London… $80.4 million was the exact price fetched by a Monet… a record. Let the good times roll!

That may not be fair. Millionairism is spreading more equally. (Huh?) Merrill Lynch estimates that there are a few more than 10 million millionaires in the world… about two-thirds live in N. America and Europe. But the biggest growth in the ranks of these financial leaders: Middle East, followed by Latin America. The long view…

Liberals need not apply. Do you belong to the American Constitutional Society or Greenpeace or Planned Parenthood? DOJ is not for you. So says an internal report citing rejections from Justice jobs if applicant deemed “leftist”. According to NYTimes, Internet search engines look for evidence of liberalism in candidate profiles…

With 8,000 new foreclosures a day being filed, Congress is pushing bill for mortgage relief… Too little too late. In Illinois, state sues Countrywide Financial and its CEO for fraud in sale of defective loans… some reduced –documentation loans took only half an hour to underwrite and the Countrywide sales force made big bonuses… B of A still set to takeover the lender…

Add health stocks to your energy and food equities portfolio? Health care costs on the rise, yet again… 2008 to see a 10% rise in employer health costs… that’s twice inflation… Next year expected to do about the same… The building of private suites in hospitals cited as one factor. California HMOs raked in $4.3 billion in profits in 2007…that’s on top of the $6 billion spent in administrative costs… One man’s pain, another’s profit.. Somebody call the Oracle of Omaha! These rising costs causing US cities to make cuts in fire, school, parks systems, according to Family USA survey.

Corrupt Nation: GAO reports that more than 27,000 health care providers, read: owners of hospitals and nursing homes and doctors, owe more than $2 billion in federal taxes. Got it? They get paid with (our) Medicare money and then fail to pay all the taxes they owe (like the rest of us). Some executives, says the GAO, “accumulated substantial wealth and assets, including million-dollar house and luxury vehicles, while failing to pay their federal taxes.” There’s a shock.

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