The La Jolla California Housing Collapse

$1.7 million and the weeds are growing in the foyer

 

 

 

 

 

 

Stein Brothers Build The Exclusive Nuevo Ranchero Resort

 

 

 

 

 

 

 

The Bankers That Created The Crash

 

 

 

 

 

 

 

The Great Nuevo Ranchero Housing Lays Half Finished

 

 

 

 

 

The Rodriquez Family Is On California's Welfare Rolls

 

 

 

 

 

 

 

 
 

Where Does It All Begin?

The heart of the housing crisis had it's roots with FDR's cabal. Then in the 1960's, the tax laws were changed to favor real estate, and in the 1970's tax laws put other investments in a negative light, driving more into real estate.
   

 

 

 

 

 

 

Clinton Relaxes Controls On Federal National Mortgage

On November 12, 1999, President Clinton repealed the Glass-Steagall Act, which for 55 years had prevented banks, the nation's lenders, to get into the so-called "investment banking" business (stock brokers). With lots of pressure in Congress by the Democratic members of the New York contingent, the Senate and House caved in and trashed a law which had provided stability in both the banking industry and on Wall Street.4
 
   

 

 

 

 

 

Jake Stein Floods The Market

Stein construction buys a unincorporated hilltop tract, hires hordes of immigrant Mexicans, and builds the exclusive Great Nuevo Ranchero housing complex. 9
   

 

 

 

 

 

Harvey Blintz Finances It

Harvey has a long standing relation ship with the Steins, and after the 1980 Savings and Loan bailout sees no downside.

 
 

 

 

 

 

 

  

Washington Mutual

Sammie Cohen at Washington Mutual hands out 100% financing to his 'Pals'. 7
   

 

 

 

 

 

Whoops!!

The market collapsed and the 'Citadel' model at Stein's Ranchero Resorts dropped from $1,700,000 to $980,000 and there isn't a buyer in sight.
   

 

 

 

 

 

Who Won And Who Lost

The Winners

  • Jake Stein got his $100 million for Rachero Acres
  • Harvey Blintz got his 10%
  • Sammie Cohen flipped five houses

The Losers

  • California is stuck paying unemployed Mexicans
  • The American taxpayer has to bail out the bad $100 million bank loan
   
   
   
   
   
 

 

 

 

 

 

Keep It Simple

Forget the fancy terms like derivatives, insured paybacks, liquidity in basis, etc etc, and just ask who got the money for these housing projects. The second question is where is the $700 billion dollar bailout going to?

Are the retirees that lost $100k in Washington Mutual stock getting their money back? Or how about the Johansson whose retirement home lost 50% of it's value? The truth is the $700 million is going to the Zionist bankers, to shore up their businesses and financial security.
 

 

 

 

 

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