As we wrote on July 26, 2007, Agassi made a horrible bet on property (development of a Fairmont hotel) at the peak of the cycle. Less than 7 months later, the resort itself is now filing Chapter 11. Makes you wonder about “financial advisors.”
Tamarack Resort In Idaho Files Chapter 11
New West Business is reporting Tamarack [...]
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Posted in Bankruptcy, CDS, CMBS, Equities, Fixed Income, Herd Mentality, Interest Rates, Investment Banks, Liquidity, Rating Agencies, Recession, U.S. on February 18, 2008 | Leave a Comment »
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Posted in Bankruptcy, CMBS, Currencies, ECB, Equities, Federal Reserve, Fixed Income, Foreclosure, Herd Mentality, Interest Rates, Investment Banks, Liquidity, Rating Agencies, Real Estate, Recession, Subprime, U.S. on February 13, 2008 | 1 Comment »
February 11, 2008 (Rob Roy) – Over the past several years my firm has highlighted the risks in the sub-prime sector, the lax lending standards, and the housing bubble that peaked in 2005. The residual effects of these have been vast and continue to support our view that the unraveling of the debt issue is [...]
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