Ad Hoc vs. Whole Building Approach For at least a couple years now, I’ve counseled my condo Buyers to be leery of a certain Lake Calhoun condo building. My concern(s)? That is, besides suspiciously low sale prices (often a giveaway): I’d heard numerous stories about alleged problems (remember, I’m a former attorney) with the building’s...Read More
That speculation is based on what’s trending on this blog at the moment. Specifically, the most popular post the last month is “Statutory Cancellation for Beginners.” If you’re in a deal that progresses smoothly and closes on time . . . you don’t need to know about “statutory cancellation.”Read More
Riddle: How Can His Prices Possibly Be That Low?!? [Editor’s Note: For obvious reasons, no names or other identifying info on this post. However, I heard the following anecdote from an “extremely reliable source” (as they say), and believe it to be true.] So, how does one very cost-competitive Twin Cities builder deliver such eye-popping prices? By “exploiting”...Read More
Q&A for Borrowers (“No, You Don’t Have to Return the Money”) For those tuning out the news over the July 4th holiday, one of the lead financial stories the past few days is alleged manipulation of Libor, or the “London Inter-bank Offer Rate,” by bankers at U.K. giant Barclays. While the allegations and defenses are...Read More
Safety in Numbers? If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem. –John Paul Getty If a small investor gets ripped off by Wall Street, they’re SOL. But if a whole lot of investors get ripped off by Wall Street, there’s at least the...Read More
Getting Busted for the Cover-Up — Not the Crime I have no idea — based on the handful of stories I’ve read — if MF Global broke any laws, and if so, whether it will face prosecution. But if so, here’s my guess what the company and/or its principals will ultimately be charged with: not engaging in the ruinous, numbingly...Read More
