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Dec
20
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“Interesting presentation,” Bass says the firm’s chief risk officer said into his ear, his arm draped across Bass’s shoulders. “God, I hope you’re wrong.”
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One week in 2002, Daniel Sadek was $6,000 short of covering the payroll for his new subprime mortgage company, Quick Loan Funding Corp. So he flew to Las Vegas and put a $5,000 chip on the blackjack table.
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But in the longer term, there are signs that volatility is “entering a new regime”, as Deutsche Bank says.
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Now that the subprime shakeout is nearly over, another real estate mess looms, this time in commercial property.
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