This morning brought news that LandSource, a joint venture involving CalPERS, is filing bankruptcy.
The geniuses at CalPERS put almost a billion dollars into this California land deal right as it was becoming obvious to everyone else that the housing bubble was bursting.
This was just months before the brilliant Toxic Waste CDO deal they bought right before the summer mortgage meltdown.
Nice going, guys! What's your next trade?
Subscribe to:
Post Comments (Atom)
-
Only the police should have guns, you know. The shocking double murder of a young couple in Irvine turns out to have been suspectedly com...
-
UPDATE: Edited to remove the guy's name. I hope nobody harasses him or his employer. He was good-natured and his sign was innocuous a...
Why does America keep winning?
X : Yes. But also, America's abundance of natural resources and history of fortuitous developments kinda seems like God shed His grace o...
No comments:
Post a Comment