Wall Street Folly

Archive for the ‘Real Estate’ Category

John Mack thinks investment bankers get paid too much; Name of shame: Mark Madoff’s wife and kids are changing their last names to “Morgan”; Appaloosa getting active in Stuyvesant Town

Posted by WSF On February - 25 - 2010
  • Morgan Stanley’s Mack Says Investment Banker Pay Still Too High
  • Madoff Daughter-in-Law Seeks to Change Name After Death Threats
  • Appaloosa Seeks to Join Lawsuit Over Stuyvesant Town Read the rest of this entry »
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Bernie Madoff, Bonuses, Compensation, John Mack, Morgan Stanley, Real Estate

EU deal on Greece set, but no details yet; Goldman cuts Euro target,This year Biggest Bonuses went to Wall Street lesser knowns; AIG’s new compensation plan; Credit Suisse bonuses 60% cash; As they’ve been saying for awhile, commercial real estate is the next shoe to drop and small banks could be in trouble; CIT’s TARP debt officially wiped out; Foreclosures still coming big time

Posted by WSF On February - 11 - 2010
  • EU Reaches Greek Accord, Will Apply Strict Rules, Officials Say
  • Goldman Cuts Euro Target on ‘Most Threatening’ Crisis
  • AIG Pay Plan: Rank and Rile
  • Wall St.’s Biggest Bonuses Go to Not-So-Big Names
  • Bernanke Lays More Groundwork for Exit Without Giving Timetable
  • Credit Suisse says 2009 bonuses average $135,000
  • TARP Panel: Small Banks Are Facing Loan Woes Read the rest of this entry »
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Barack Obama, Ben Bernanke, Bonuses, Compensation, Credit Suisse, Real Estate

Bernanke confirmation still a squeaker but White House is confident; Davos bankers vs Obama; UK’s Darling opposes Obama’s bank breakup plan; Goldman said to be limiting UK partners compensation; Barclays deferring top bonuses; More NY Fed / AIG controversy; Wal-Mart cutting 11K Sam’s club jobs, Tishman giving up on Stuyvesant Town; Avatar closing in on top grossing film

Posted by WSF On January - 25 - 2010
  • White House Is Confident Bernanke Will Be Confirmed
  • Davos bankers to lobby against Obama reforms
  • Darling reveals frustration over Obama bank plan
  • Goldman Said to Limit London Partners’ Compensation
  • Barclays to defer all top bonuses
  • AIG Analysis Reveals Bank Discussions
  • Wal-Mart to cut 11,200 jobs at Sam’s Club stores
  • Tishman Venture Gives Up Stuyvesant Project
  • Cameron’s ‘Avatar’ Becomes 2nd-Highest Grossing Movie Read the rest of this entry »
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AIG, Barack Obama, Barclays, Ben Bernanke, Bonuses, Compensation, Economy, Fed, Goldman Sachs, Real Estate, Revolving Door

Video: Sam Zell talks about the state of the real estate market; He likes Brazil

Posted by WSF On January - 13 - 2010

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CNBC, Real Estate, Videos

Chanos sees China crashing, NY Commercial real estate hits expected to continue its slide; No shock, but private equity money raising plunged 68% last year

Posted by WSF On January - 8 - 2010

  • Contrarian Investor Sees Economic Crash in China
  • Further Slide Seen in N.Y. Commercial Real Estate
  • US Private Equity Fund-Raising Falls 68% To $95.8 Bln In 2009 Read the rest of this entry »
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Jim Chanos, Private equity, Real Estate, Short selling

Averting defeat, Chris Dodd is stepping aside and won’t run; Rajaratnam facing new charges; TCW bailing on PPIP; Asness’ AQR launching another mutual fund; Goldman takes a piece of Tiger cub fund; Citigroup’s Havens $9M payday; Ex-UBS banker wants prosecutors probed; Distressed real estate getting nibbles from Blackstone, others; Lehman claims plan facing resistance; Iceland says it won’t default

Posted by WSF On January - 6 - 2010
  • Senator Dodd Said to Not Seek Re-election in November
  • Galleon founder faces more US charges
  • TCW Pulling Out of PPIP
  • Shumway Capital Sells Stake to Goldman Sachs’s Petershill Fund
  • Citi’s Havens Got $9 Million for ‘09
  • Hedge Fund AQR Goes ‘Mom & Pop’
  • Ex-UBS Banker, Informant Birkenfeld Seeks Probe of Prosecutors
  • Distress Calls Begin to Go Out Read the rest of this entry »
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Citigroup, Compensation, Goldman Sachs, Hedge funds, Insider Trading, Lawsuit, Real Estate, UBS

Tepper leads the hedge fund winners; Morgan Stanley reshuffles senior management again; 85 year old legend Marty Whitman stepping down from Third Avenue fund; 2009 saw the big rise of the quickie bankruptcy; Credit Suisse gets sued; Greece may borrow from banks; NYC real estate prices are down but buyers are coming back; Silicon Valley office building ‘bloodbath’; TCW liquidates ousted Gundlach’s treasury fund; Mesa Air Chapter 11; There were THREE white house party crashers, not two

Posted by WSF On January - 5 - 2010

  • Tepper Turns Panic to Profits With $6.5 Billion Hedge Fund Gain
  • Morgan Stanley Shuffles Leadership
  • Third Avenue co-chief investment officer steps down
  • The Quickie Bankruptcy
  • Suit Over Resorts Hits Credit Suisse
  • Greece May Borrow Privately Through Banks This Month
  • Plunging home prices pull Manhattan buyers back in
  • Silicon Valley ‘Bloodbath’ Leaves Entire Office Buildings Empty Read the rest of this entry »
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Bankruptcy, Credit Suisse, Hedge funds, Lawsuit, Morgan Stanley, Real Estate

File this under accidents waiting to happen: FHA making easy big loans to those with little cash down #EasyMoney #CreditCrunch #RealEstate #FHA

Posted by WSF On November - 20 - 2009

Sounds like they’ve learned little, if nothing during the real estate meltdown.  According to the NY Times the FHA is making easy money for big mortgages available to those with virtually no cash  down.  It recently  loaned three nearly cashless twenty-something guys the scratch to buy a 2 unit apartment building for close to $1 million.  Their collective downpayment?  Around $33K, or $11K a piece.  Virtually no skin in the game.   Oy. Read the rest of this entry »

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Real Estate

Ivanka Trump isn’t so happy with the Crains NY story about her and Jared

Posted by WSF On November - 16 - 2009

Crain’s NY published a piece on Ivanka Trump and her new hubby Jared Kushner.  Doesn’t seem like she’s so pleased with the piece given her Twitter tweets from a little while ago: Read the rest of this entry »

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Donald Trump, Real Estate

$FNM has a deal to sell its unused tax credits but Treasury still stands in the way; Citi gonna IPO Primerica; Banks getting more guff for getting swine flu vaccines before hospitals; AIG earnings; B of A’s Moynihan to testify?; BNY’s Kelly still doesn’t want B of A job

Posted by WSF On November - 6 - 2009
  • Fannie Arrives at a Deal to Sell $2.6 Billion in Unused Tax Credits
  • Citigroup Plans IPO For Primerica Life-Insurance Unit
  • Uproar as Firms Get Swine-Flu Vaccine
  • AIG Posts Net Income of $455 Million, Second Straight Profit
  • Fannie’s Draws From Emergency Treasury Fund Reach $60 Billion Share Business Exchange
  • Buffett’s ‘Wake-Up Call’ to Managers May Signal More Cost Cuts
  • BofA’s Moynihan Said to Testify as House Sorts Merrill E-Mails
  • BNY Mellon’s Kelly Says He Doesn’t Want Bank of America Post
  • U.S. Property Investors Deem 2010 Worst Time to Sell Read the rest of this entry »
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AIG, Bank of America, Chrysler, Goldman Sachs, Morgan Stanley, Real Estate

More taxpayer $$ to get flushed? Seems like we’ll be paying off GMAC fines with the next round of bailout $$$; Geithner thinks commercial real estate problems won’t tank economy; Compensation: Will UK bankers take hits vs those in U.S.? Stanford receiver identifies 1.5B; White House fights cash for clunkers criticisms; Moody’s mortgage bonds downgrades on the way?; CDR Financial Products execs charged with bid rigging

Posted by WSF On October - 30 - 2009

  • Regulator says GMAC must pay £10.5m for treating customers unfairly
  • Geithner: Economy Can Withstand Commercial Real-Estate Woes
  • Bankers fear transatlantic pay split
  • Stanford receiver pinpoints $1.5bn
  • White House fights back on Cash for Clunkers
  • Moody’s May Downgrade Mortgage Bonds With New Outlook
  • CDR Financial Products, 3 executives charged in bid-rigging case Read the rest of this entry »
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Allen Stanford, Bonuses, Compensation, Hedge funds, Politics, Real Estate, Tim Geithner

Strange but apparently true: Wells Fargo has sued itself; Even their own staff is said to be laughing over how absurd it sounds — $WFC #banks

Posted by WSF On July - 15 - 2009

And if their own staff is laughing, everyone else is bound to do so as well.  So they’ve assigned a PR person to deal with the press over the lawsuit, which revolves around a conflict of interest in the ownership of a condo.  Per the NY Post: Read the rest of this entry »

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Real Estate, WSF, Wells Fargo

Ex Bear Stearns President Warren Spector’s Greenwich Village co-op goes for $8M; Scammer Marc Dreier’s NYC crib going on the auction block; London no longer on the top 10 most expensive cities’ list

Posted by WSF On July - 7 - 2009

  • Warren Spector’s Penthouse crib sold for $8M
  • On the auction block: Scammer Marc Dreier’s condo
  • London pushed off of the top 10 most expensive cities’ list Read the rest of this entry »
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Bear Stearns, Real Estate, WSF

Home sweet home no more: The upper east side co-op that Ruth Madoff must vacate and that Bernie won’t ever see again

Posted by WSF On June - 30 - 2009

The NY Daily News has given us a glimpse of how Bernie and Ruth Madoff lived:

Read the rest of this entry »

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Bernie Madoff, Legal, Real Estate, Scandal, WSF

No takers: Tim Geithner is forced to rent his house

Posted by WSF On June - 3 - 2009

So much for trying to sell his house:  Tim Geithner has been forced to rent his Larchmont home after it didn’t sell.  He purchased the house for $1.602 million in 2004 and originally had it on the market for $1.635 million.  When it didn’t sell at that price, the ask was dropped to $1.575 million.  Still no takers.  So he’s rented it for $7,500 a month.

Geithner couldn’t sell home – NY Post

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Real Estate, Tim Geithner, WSF

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