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Realtors: The New Ambulance Chasers

 
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gleek
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Realtors: The New Ambulance Chasers
« on: March 17, 2008, 10:38:29 AM »

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At the Madison Avenue entrance, Ray Schmitz, a Realtor with Coldwell Banker, was betting that with the value of their stock options in tatters, Bear's employees might soon be looking to trade their luxury homes for something a little easier on the budget.

"You have to go where the business is," Schmitz said as he handed out business cards. "A lot of these people are going to lose their jobs, and most of their wealth will have been in share options. They're soon going to be looking for a cheaper place to live."
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dystopia
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Re: Realtors: The New Ambulance Chasers
« Reply #1 on: March 17, 2008, 10:41:53 AM »

I was just reading that article too.

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To add insult to injury, someone had taped a $2 bill to the revolving glass doors at the 46th and Vanderbilt Avenue entrance -- some gallows humor on the bargain-basement $2-a share price JPMorgan Chase (JPM.N: Quote, Profile, Research) paid for Bear Stearns.

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Aske
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Re: Realtors: The New Ambulance Chasers
« Reply #2 on: March 17, 2008, 10:47:50 AM »

this whole thing screams of massive top-level executive fraud and 'insider trading' type  BS.
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Fuzzy
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Re: Realtors: The New Ambulance Chasers
« Reply #3 on: March 17, 2008, 10:56:37 AM »

Or quite simply a classic run on the bank. The firm's short-term creditors refused to lend the firm any more money and simultaneously demanded repayment of outstanding debt.

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stroh
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Re: Realtors: The New Ambulance Chasers
« Reply #4 on: March 17, 2008, 11:11:56 AM »

Sounds ripe for a Michael J. Fox movie.
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