As HP'ers may remember from June 2006, Harvard's "Joint Center for Housing Studies" put out a bizarre and incredibly bullish report on housing, much to our amusement and bewilderment, as housing was already well in meltdown mode by then.
So the bubble bloggers did their thing and dug a bit, and sure enough, the "Joint Center for Housing Studies at Harvard" is 100% bought and paid for by the REIC. Their sponsors read like the who's who of the REIC. And King-Bought-and-Paid-For is, of course, as fate would have it, it's head, one Nicolas Retsinas, whose entire livelihood rides on putting out bullish reports to support his masters, the REIC.
So we exposed it, had a great time, and though we nipped that one in the bud. Mr. Retsinas looked silly and stupid then, but I'm sad to say, as of today, he now looks seriously corrupt.
Mr. Retsinas took it upon himself today to put out the strangest of strange articles, again trumpeting housing, and calling naysayers like HP "Cassandras", "Pollyannas" and "Chicken Littles".
Seriously. No, seriously.
He bizarrely uses no data (since he can't - it's all so amazingly ugly as we're in full meltdown mode now), and his arguments are sophomoric at best, frankly smacking of the University of Slippery Rock, not Harvard University for god's sake.
According to the blatantly bought-and-paid-for Mr. Retsinas:
"Cassandra, though, can stop wailing: the expected price corrections mark a slowing in the rate of increase - not a precipitous decline. This will not spark a chain reaction that will devastate homeowners, builders and communities. Contradicting another gloomy seer, Chicken Little, the sky is not falling"
He goes on to state:
"Cassandra can stop wailing, and Pollyanna can stop cheering. Home prices in some regions are moderating, but for a nation inured to CNN's headline-of-the-moment, this moderation does not rate high on the Richter scale of cataclysm."
So, HousingPanic today calls for Harvard to fire Mr. Retsinas, immediately. He is polluting the image and mission of Harvard University. He is bringing disrepute and, frankly, a stench to your fine university.
HousingPanic also calls for Harvard to investigate the personal finances of Mr. Retsinas, who, with his bizarre rantings, has at a minimum the appearance of being on the take from his many REIC masters. We would encourage a hard look at sporting tickets, restaurant tabs, travel expenses, junkets, bank statements and any other quid-pro-quo possibility which would cause such blatant bias and disinformation.
Finally, HousingPanic is requesting Harvard look at the funding and structure of the Joint Center for Housing Studies, so that REIC bias is eliminated from the entity, and a truly unbiased and uncorrupted study of housing may be undertaken in the future.
Harvard is a the pinnacle of American education. To have such REIC corruption within the hallowed halls of Harvard shows just how entrenched the REIC is in American institutions, beyond the Congress, the Media and our financial institutions.
HP'ers, join me in contacting Harvard on this issue:
Joint Center for Housing Studies Harvard University1033 Massachusetts Avenue, 5th Floor Cambridge, MA 02138
Main Number: (617) 495-7908
Media Relations: Elizabeth England (email@example.com)
Harvard President Derrick Bok (firstname.lastname@example.org
Harvard Joint Center for Housing Studies Head of REIC Corruption: Nicolas Retsinas (email@example.com)
Finally, here is the dirty list of Mr. Retsinas' Real Estate Industrial Complex masters.
Armstrong Holdings, Inc.
Beazer Homes USA
Boise Cascade, LLC
The Bozzuto Group
Bradco Supply Corporation
Building Materials Holding Corporation
Countrywide Financial Corporation
Fannie Mae Foundation
Federal Home Loan Bank of Boston
Fortune Brands - Home and Hardware
GAF Materials Corporation
Hanley Wood, LLC
Huttig Building Products
Johns Manville Corporation
Kimball Hill Homes
Lafarge North America
Marvin Windows and Doors
Masonite International Corporation
Meritage Homes Corporation
MI Windows and Doors, Inc.
National Gypsum Company
Oldcastle Building Products, Inc.
Pacific Coast Building Products
Reed Business Information
The Ryland Group
S&B Industrial Materials S.A.
The Sherwin-Williams Company
Stock Building Supply
The Strober Organization
UBS Investment Bank
And this from the Harvard website:
The Policy Advisory Board is comprised of senior executives from leading corporations involved in the housing sector, including home building, building materials manufacturing and distribution, housing finance and mortgage banking, design, construction and renovation.
The Chair of the PAB is Thomas C. Nelson of National Gypsum Company and the Vice Chair is Stuart Miller of Lennar Corporation.
September 27, 2006
HousingPanic calls for the immediate firing of Nicolas Retsinas, Director of the Joint Center for Housing Studies at Harvard University
Posted by blogger at 9/27/2006