American People — Get ready for heavy lifting and sacrifices “for the greater good.”
Meanwhile — some recent real estate transactions. I’m glad to see the Wall Street bailout was successful. See more at Luxist:
–Lehman’s former head of mortgage banking, Kurt A. Locher, recently spent $5.25 million on a West End Avenue apartment.
–Ex-AIG executive vice president Robert M. Sandler spent $3.45 million at the Hampshire House the day after the F.B.I. announced its investigation into his old firm’s collapse.
–Rosemary T. Berkery, the former vice chairman, general counsel and senior vice president at Merrill Lynch, has bought a $5.2 million apartment at 975 Park Avenue. She and her husband, attorney Robert Hausen, already have a co-op five floors down in the building.
–Jeff Zavattero, a Bear Stearns senior managing director recently sold his apartment at 530 East 76th St. for $4.2 million for his apartment.
–A former Lehman Brothers vice chairman Kunho Cho sold his One Beacon Court condo for $10 million. Mr. Cho and his wife, Tay, paid only $5.975 million when they bought the apartment in June 2005.
-Leo Tilman, Bear Stearns’ chief institutional strategist before starting up his own firm, has paid $3.5 million for a condo at Tribeca’s 101 Warren Street.
–50 Cent has dropped the price of his 19-bedroom, 51,000-square-foot Farmington, Connecticut mansion by $4 million. The home, Mike Tyson’s former home, was listed at $18.5 million when it was our estate of the day in 2007.
It’s hard out here…..:
Posted: 01.11.09 Repost: 03.07.09
“Some sweet sounds comin’ down” for Citigroup last night.
From New York Post:
The feds late last night announced an unprecedented plan to rescue Citigroup by taking a $20 billion stake in the desperately troubled bank and guaranteeing as much as $306 billion worth of its toxic assets. Citigroup officials worked late into the night with a federal team led by Tim Geithner, the current president of the Federal Reserve Bank of New York.
Tim Geithner is expected to be appointed President elect Obama’s treasury secretary today.
Geithner is the architect of the global bailouts of the wrecked economies of several Asian and South American countries during the early 1990s.
When word was leaked Friday afternoon that he would head the Treasury Department in the Obama administration, stock markets zoomed, with the Dow Jones industrial average soaring nearly 500 points in the final hour of trading.