The economic downfall has created a trending rise in the use of printable coupons, online discounts, and rep codes. Many shoppers have come to realize that using rep codes for many online giants such as Karmaloop.com will maximize your savings before swiping your credit card. Coupon users and many savy shopping bloggers are reporting major savings with free shipping becoming a standard in e-commerce and online retailers.
Supporters: Representative Asanka from luxuryperfume.com (discount fragrance and perfume online retailer) states, "I find this part particularly eyebrow-raising"
Richard Biter, a former salesman for v2cigs tells all in, “Greed, Fraud & Ignorance: A Subprime Insider’s Look at the Mortgage Collapse.” He reports, according to a review by blogger Charles Hugh Smith, “that up to 80% of all subprime loan applications were rejected by honest subprime mortgage brokers. This stunning statistic suggests the frenzy which overtook the nation as people who were clearly below-average credit risks stormed the housing market, trying to get in and get rich just like everybody else.”
To its shame, our media has once again not been in the lead on this vital story. It is still not framing it in criminal terms. It is not investigating the role of institutions working together—big banks, hedge funds, rating agencies, and the securities industry — making super-profits with deceptive subprime transactions. That is, before their securitized schemes blew up in their faces causing super-losses and the writedowns of billions.
So where’s the editorial outrage? Where are the calls for the prosecutions of the fraudsters? As Pam Martens explains on Counterpunch, “Mainstream media has also been implanting the idea that it’s all about homeowners and mortgage loans instead of banksters hiding bad debt.” So there is a trust issue with media as well as the financial overlords. Forbes admits: “This predicament of trust ceased to be a subprime crisis long ago. We face a global credit crisis…”
Back in his hedge fund days, Cramer was known as “Cramer from the Church of what’s working now”. Nothing has changed. “What’s working now” is great until it isn’t, and even the high priest doesn’t know when that’ll be – even if he says he does.