Content posted by D. Clark Macpherson

While the 311 system has the essentials that could be helpful to tenants, the glaring inefficiencies are sometimes astounding. Coupled with City agencies that either don’t give a damn or are stacked against tenants – which is the same as being pro-landlord – or simply corrupt.


SoHo News Online's Donald Clark MacPherson visits the newest restaurant incarnation at 331 West Broadway called South Houston.


 

After several years of reading my housing diatribe – it will no doubt awaken not a few people as to what the landlord netherworld is currently up to and show how the City agencies are cooperating in forcing out rent controlled and rent stabilized tenants. HPD is a bad joke as far as an agency where complaints are lodged, the Buildings Department is at the very least a corrupt idiot stepchild of the Bloomberg empire, and the DHCR all but works in collusion with landlords and their attorneys for destroy affordable housing in Manhattan. The deck is stacked against tenants so its time to talk turkey about what is going on.

 


What is amazing about the BP leak, assuming that the rock formation above the pool of oil beneath is intact and not also leaking from numerous locations, is the fact that little has been said about one aspect of how this happened.  The Cheney connection (Halliburton) to the oil business runs deep, as does the Bush family cash.


Chapter 9— coming to a bookstore near you?  No, actually, it’s a Bankruptcy Code option for Villages, Towns and other Municipal entities that allows for reorganization because they cannot pay their debts. And, if Warren Buffett is right, it’s just around the corner for many local governments. Only $14 Billion has defaulted thus far, but the cost of Credit Default Swap insurance is rising rapidly on these bonds.


Those of you who are buying into the recovery underway may want to re-think your plans. As has been mentioned here numerous times, there will be no recovery. We have been heading into a prolonged period of hyperdeflation, deflation or depression, depending upon whether it is you or your neighbor who is suffering the most.


Apparently the U.S. Attorney has opened a criminal investigation into the Goldman Sachs matter. Now there are 3 (Justice, SEC, US Attorney) separate government inquiries into the operations of the “bank” and more information about fraudulent activities may surface – or not. As the Wall Street blog 24/7 points out, many such inquiries have simply gone away after a few lower-level, “upper” management have been thrown under the bus. Of course, the Wall Street/Banks/Mortgage Broker triage-of-corruption, which has destroyed the economy— only those who accepted mortgage loans are likely to be targeted.


As a result of bailing out the banks with TARP money, taking over Fannie Mae and Freddie Mac via a conservatorship, and giving huge loans to certain “too big to fail” entities, we now have some stability. But, it is a stability that comes with a high price.


While the Pelosi imbroglio over torture and accusations against the CIA has receded somewhat, even some liberals are taking something of a distancing, and speculative look at the fact that these guys (the suspected terrorists) who were interrogated were not our friends, to say the least. When James Bond asked Goldfinger what he expected him to do, he charmingly laughed, "I expect you to die Mr. Bond.”  That IS what the enemy-combatants expect and want from us, as well.  Make no mistake about that.


The pace of construction has slowed Downtown. The new projects that are moving forward are primarily hotels. In part, this is due to the fact that little community review is needed when building as-of-right structures in a manufacturing zone. The Trump SoHo project is nearly completed and both the Tunnel Garage and Moondance Diner sites are in final stages of construction. The condo project at 350 West Broadway is also nearly completed...