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Billionaire George Soros, speaking today at a lecture organized by the Central European University in Budapest, said a “bloodletting” may be coming for leveraged buyouts and commercial real estate.
“The American consumer will no longer be able to serve as the motor for the world economy,” said Soros, 79.
WL Ross was among a group of firms that agreed Oct. 6 to buy $4.5 billion of Corus Bankshares Inc.’s real estate. Starwood Capital Group LLC and TPG led the group to buy the assets of the Chicago-based lender, which was seized by federal regulators Sept. 11 after its investments in construction loans for condominiums went bad.
In 2007, Ross ventured into the declining residential property market, winning an auction for the home-loan servicing unit of Melville, New York-based American Home Mortgage Investment Corp. He agreed to pay between $435 million and $500 million for the right to collect payments and maintain escrow on about $45.3 billion of home mortgages.
Originally posted by Kaytagg
Market goes down, dollar goes up.
Dollar goes down, market goes up.
I'm not at all worried about a 200 point drop in the dow. In fact, I've been buying today -- because good stocks are on sale today. Hopefully it rallies tomorrow, but if it doesn't I'll most likely be buying again.
Originally posted by Erasurehead
reply to post by mrmonsoon
After about a 44% run up since March it is normal to see people sell off some stock to take profit. Not a big deal.
After a run like this it is normal to see a bit of a correction so I would not be surprised to see the DOW in the 8500 range before the end of this year. Doesn't mean there is a panic, it just means people have made a lot of money in the market since March and they are cashing out.
Originally posted by Rockpuck
Except Saudi never said they were not selling in Dollars... seriously people, do your own research!
The decision effects contracts for future oil sales, the main ETF on wall street... has nothing to do with the currency....
Originally posted by mrmonsoon
Ok, 200 points is not the end of the world.
It "IS" a bad sign to be almost 230 by about 10 am pacific standard time.
Please people, don't try to match this to the october 25, no 26, no, 27, no, 28, no 29, no 30th doom.