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Neubert's Trades The Lehman Brothers Collapse Hits the Real Estate Market
Neubert's Trades The Lehman Brothers Collapse Hits the Real Estate Market
| The Lehman Brothers Collapse Hits the Real Estate Market |
| Written by David Neubert | |||
| Thursday, 25 September 2008 12:07 | |||
 Photo: Financial Aid Podcast, Creative Commons, Flickr If you read my blog earlier this week predicting a fall in New York real estate from the Lehman collapse, this big seller ($32 million) could be the first post-Lehman effect on the housing market. Too bad Lehman was the only investment bank not to get a Fed bailout or maybe this fantastic Hamptons place would not be for sale . . . Disclosure: I was a Managing Director at Lehman, I left at the beginning of 2005. I am vested in their now worthless executive compensation plan. I own a condo in Manhattan that is certain to fall in value but I gotta live somewhere so I won't sell. I have not seen him since I left Lehman but I knew and liked Joe Gregory. He was part of the team of people who recruited me to Lehman Brothers from Morgan Stanley. I found him to be a direct and reliable manager and I am sorry he has to go through this recent crisis. If I know him, he will turn it around for himself and end up at some lucky organization in a productive capacity. After all, his personal losses are only financial. It is possible that he was planning to sell this house before Lehman collapsed.
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| Last Updated on Monday, 29 September 2008 09:51 |
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