Monthly Archives: December 2008
Something for everyone on this blog
Hiram writes, “Beachbum’s one of those obsessive types who relates everything to the Bushes. He probably thinks more about them than about sex”. Is he right, Beachbum? Just in case …
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Unleash Bernie!
Would someone who knows the presiding judge in the Madoff case please persuade him to free Bernie from house arrest, if only for ajust a quick run up the street? Day after day we see the same damn picture of … Continue reading
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Greenwich CT House sales 2008
I’ll play with the numbers tomorrow and see if I can come up with some dollar figures but for today, and assuming tomorrow will see no significant activity, here’s where we are in single family sales, contracts (all contracts signed … Continue reading
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It’s ugly, but it gets the job done
Prices in Phoenix plunge as banks dump foreclosed properties. As noted below, a lot of this damage could be avoided here if the banks started working with buyers and sellers to move properties before final foreclosure.
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Oh no, not more of the Fabulous Five!
But how can I resist? Business Sheets, in what’s probably an act of copyright infringement but what they’re calling fair use and commentary, has reproduced the long-lost original Vanity Fair article on the girls. You can read it here,as I’m … Continue reading
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SEC – oh yeah, who says we can’t catch crooks?
SEC Chairman Christopher Cox announced today that his forces had snuffed out a $23 million ponzi scheme in Florida that was preying on the Haitian-American community. ”Anyone can catch a great, big, $50 billion scandal,” Cox asserted at a press conference … Continue reading
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Ariane Noel: “enough about me, what do you boys do?”
Two readers alerted me that an earlier picture showing Andrew Madoff and his wife was actually one of Andy and his new squeeze, Katherine Hooper. Hey – blame the NY Post, who muffed the identification. But that reminded me that … Continue reading
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No sale in Greenwich
You’re looking at the only activity recorded on the MLS today – a listing that expired. Will this enormous new mansion on a dodgy street with the improbable tag of $7 million come back next year with a dash of … Continue reading
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Oh, the humanity!
Unemployed Palm Beachers beg in the streets. And what of that poor Brazilian gardener the Noels tried to deny workman’s compensation to? How’s he doing? We believe we may have spotted him, below.
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More Madoff exposure?
We mentioned yesterday that Mario Gabelli’s got money with Tremont Partners who, in turn, were wiped out by “investing” with Bernie Madoff. A commentator suggested that Mario’s brother ran his own fund with Madoff and this morning another reader wrote … Continue reading
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Bernie, we hardly knew ye, but we had our suspicions
A commentator alerted me to Blogett’s latest (I was busy working on the post below) attempt to unpack Walter Noel’s and FGG’s “strategy” behind investing with Bernie Madoff. Blogett concludes, as I do, that Walter thought Bernie was front running and just … Continue reading
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Yohoo, anybody home?
One of the Times’ best reporters, Gretchen Morgenson, has a great article in last Sunday’s paper about the difficulties in finding anyone at a lender with the knowledge and authority to rework a mortgage loan. Much of what she writes … Continue reading
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Duh – the housing market sucks
Or so says the latest Case-Shiller Index report. Prices down 18% in major metropolitan areas. Consumer confidence is down too, surprisingly enough. We’re in for a long year. UPDATE: This guy’s even more pessimistic than I am. Wow!
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If only
Osama Bin laden lost $1 billion with Madoff. The author’s joking, of course (but it’s funny – check it out) but I was thinking that the two men were made for each other. Bin Laden’s sharia law forbids the payment of … Continue reading
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Swiss banks, Fairfield Greenwich Group, Bernie Madoff
Defying the wisdom taught you by your father, you don’t always get what you pay for, especially if what you’re paying for is a promise of careful vetting of investment vehicles and their sponsors.
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Can you sue Walt and Bernie?
The federal case against Bernie Madoff starts Wednesday with a preliminary issue of who is the victim eligible for the almost negligible SIPC coverage ($100,000 an account, I think). It would be ironic if Fairfield Greenwich Group were to receive what … Continue reading
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World ends; women, minorities etc.
NYT: Blacks face calamity with auto plant closings
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You take it!
I mentioned a month or so ago that divorcing couples, saddled with a house worth less than its mortgage, are now fighting over who gets stuck with it. The New York Times has just discovered this phenomenon, so I guess … Continue reading
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Who said homeowners are stupid?
They’re smarter than the latest bunch of realtors claiming to be “green” experts anyway (an admittedly low barrier). Recent polls show that homeowners will pay up to $5,000 to add eco-friendly features to their house if they’ll get it back … Continue reading
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One of the oddest marketing letters I’ve read in awhile
Mario Gabelli has sent out a plug for the value of hedge funds and I suppose that’s fair enough – some funds have done very well this year. Here’s what’s got me puzzled. The letter extols the virtues of hedge … Continue reading
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