Word: bankses
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Bach expects the jobless rate to top the 10% mark, office rents to plunge another 5% to 10% and vacancies in commercial real estate to exceed 20% by the middle of 2010 - surpassing the 18% vacancy peak hit during the early 1990s crisis. The doom-and-gloom scenario will likely...
And there will be plenty to buy. "There's probably a lot of financial institutions that hold mortgage debt today that just can't hold it long-term and will eventually have to be sellers, whether it's regional banks or major financial institutions that need to deleverage," says Greg...
Meticulous and ever more mysterious as his fame grew, Madoff hawked his investment fund to a largely Jewish clientele, eventually sucking in large European banks too. Promising unwavering 10%-to-12% returns whatever the market, Madoff became known as "the Jewish T-bill," as in risk-free. Of course, there...
It's an entire city of John Dillingers, feeling guiltless for stealing from the banks. Boemio is well aware that short selling isn't ethical and is exacerbating Vegas' economic problems. People, she believes, should make their payments, accept their paper losses and ride out the crash. "Guess what, a...
That is true even of Sheldon Adelson, who has lost more during this recession than anyone else on the planet. The 76-year-old chairman of the Las Vegas Sands Corp., which owns the Venetian hotel, the Sands Expo and Convention Center and the Venetian Macao, was in 2007 and...