I wouldn’t expect “A-Rod” [Alex Rodriguez] to read The Daily Reckoning or subscribe to Abundance. But his lack of awareness of the global financial crisis and its implications for Manhattan real estate is so pathetic that it almost makes me feel sorry for him. Too bad for A-Rod that he wasn’t trapped in an elevator for a few hours with a Lehman Brothers investment banker or kept waiting at a doctor’s office with nothing to read but a copy of The Wall Street Journal…
January 21st, 2009 | The Daily Reckoning | 5 comments | ContinuedAll Posts Tagged With: "global financial crisis of 2008"
$4.1 Billion in Investor Funds Have Been Frozen Overnight
Before we get to how much worse the global financial crisis of 2008 could get, what about the local market? The great cash freeze of 2008 is upon us. Today’s Australian papers tell how fund managers AXA, Perpetual, and Australian Unity have frozen redemptions from their mortgage funds. Uh oh. At least $4.1 billion in investor funds have been frozen overnight. It’s an effort to halt the migration of investors from non-guaranteed mortgage funds toward government guaranteed bank accounts.
October 24th, 2008 | Dan Denning | 8 comments | Continued
