July 12, 2009

Are ‘Strategic Defaults’ Contagious?

New Real Estate VocabularyAmongst other things, the current recession/financial melt-down/housing bust has inspired some new real estate terms (or at least adjectives). So, a “normal” transaction involving one Buyer, one Seller, and two Realtors is now called a “traditional sale,” to distinguish it from all the ones that are “lender-mediated” (foreclosures and short sales). Now,...
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Beached Whales — the Real Kind

Summer Reading, cont. No, this isn’t a post about beached financial whales like Citigroup, AIG, and Fannie Mae, which all ended up bloated and marooned when the financial tide went out. It’s about real whales. Apparently, scientists have zeroed in on the cause of mass whale strandings: nearby sonar and/or seismic tests. The noise-sensitive whales...
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Michael Jackson vs. Wall Street

Inquest for Michael Jackson, But Not Wall St It is hard not to be dismayed by the fact that two years into our economic crisis so few perpetrators of financial misdeeds have been held accountable for their actions. –Gretchen Morgenson, “Looking for the Lenders’ Little Helpers“; The NY Times (7/12/09) “Dismay” is putting it mildly....
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