Category: Budget & Debts

Banks Ease Hold on Properties

According to real estate insiders, institutions and organizations lending capital to real estate investors are beginning to lighten their grip on properties, thus, putting more real estate out there. Presently, the multifamily real estate arena is in strong demand; more banks are looking to rid of properties from their records. “They seem like they’re much […]

Will AIG or the Govt. Ever Pay Taxpayers Back?

Recently, according to the Congressional Oversight Panel, the US government, if it had acted sooner and with more focus, would have been able to privately fund the AIG bailout. As it stands, taxpayers picked up the $182 billion check, neither the government nor AIG could pay. Most of the billions were used to payoff AIG’s […]

Lehman Brothers' Art Collection For sale

Lehman Brothers’ impressive corporate contemporary art collection, which includes over 400 pieces, will be auctioned in the fall. The $10+ million collection is being auctioned to help pay back creditors of Lehman Brothers Holdings, Inc. According to Sotheby’s, the works of art, made by prominent artists including Damien Hirst, Takashi Murakami, Richard Prince and Julie […]

Rothstein Auction Generates over $5 Million

Scott Rothstein, the disbarred attorney and mastermind behind a Ponzi scheme worth roughly $1.2 billion, has recently had a second auction of his luxury cars and boats which brought in $5.8 million. An 87-foot yacht sold for $2.51 million. The former attorney, who used his law firm as a front while running his multi-billion dollar […]

NY Racing Association Takes the Money and Runs

Despite its big races and huge attractions within the last weeks of thoroughbred racing’s season, the New York Racing Association, a not-for-profit corporation which controls and manages the Aqueduct, Belmont and Saratoga race tracks, has recently accepted a $25 million loan from New York state lawmakers. It was the last resort to keep the association […]

Barclays Sheds Some Weight

Recently, UK-founded, Barclays Bank said it would sell its US mortgage collection business for $1.3 billion in cash. In addition to buying into mortgage collection, roughly four years ago when the mortgage market was flourishing, Barclays bought the investment banking and trading divisions of Lehman Brothers (when they filed for bankruptcy). At the time (2008), […]