Saturday, July 26, 2008

"Buyers Arrived While The Body Was Still Inside"

This story via a reader. Does Alan Greenspan still have mirrors in his house? Fewer bailouts and more prosecutions, please.

According to news reports, the company foreclosing on the home was PHH Corp. of Mount Laurel, N.J. On its website, the company lists UBS prominently as a "new client." Phil Gramm, vice-chairman at UBS, might want to ring up his firm's new business partner to get a field report on the "mental recession."

11 Comments:

Anonymous Mr. Hedley Bowes said...

UBS? This UBS?

7/26/2008 1:41 PM  
Blogger blogarillo said...

Does Alan Greenspan still have mirrors in his house?

The blood-sucking undead have no use for mirrors.

7/27/2008 9:13 AM  
Blogger Jimmy the Saint said...

CR:
I am going to email you. Calculated Risk had a post and explained that this isn't what it seemed. The media didn't do any digging on this story. In fact, some of the commenters at Calculated Risk speculate it might have been murder and not suicide.

7/27/2008 12:58 PM  
Anonymous e. nonee moose said...

You know, I thought this sounded really fishy when I read it. The part where the husband supposedly didn't know the house was in foreclosure was the tip off.

7/28/2008 3:37 PM  
Anonymous Anonymous said...

I think the point Calculated Risk was trying to make, was that some business was taking advantage of this awful situation to get money for things that are mostly "free". Isn't that similar to Disaster Capitalism - exploitation, kick them when they are down. Bad weather here, war there, a little corruption and a suicide here and there, and add a little hate radio to stir the pot. Phil Gramm's forte? Not exactly the values of Democracy and Capitalism, or for that matter humanity, that we should be "presenting" to the rest of the world. Ah carumba!

I searched and didn't see any news report on "murder", as mentioned above. And, its not uncommon for one partner to be unaware of the household finances. For example Phil and Felice. For whatever reason, one partner will have the financial responsibilities, whether they want to or not, of the entire household.

It concerns me greatly when I think of peoples' retirements depending on the ethics of Wall Street and financial institutions and our weak-kneed politicians. I see another major financial crisis hitting our elderly, again, as the percentage of folks in retirement that have a traditional pension declines, and they realize the level of risk and the large fees they took on at the advise of financial institutions who neglected their fiduciary responsibilities. I'm sure the mathematical wizards on Wall Street will be quick to market some expensive, high risk, financial derivative to deplete what savings they do have.

7/28/2008 4:39 PM  
Anonymous goldhorder said...

anonymous...but don't worry...you see. There can always be another "New Deal"!!! Sheesh! And people wonder why I sit on my pail(above my gold) untop of my hill with a rifle.

7/28/2008 6:56 PM  
Blogger Cristalle said...

The really sad thing? There isn't going to be any insurance money, probably, because most life insurance policies don't cover suicides.

7/29/2008 11:34 AM  
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