Other People's Money

Other People's Money

Inside the Housing Crisis and the Demise of the Greatest Real Estate Deal Ever Made

Book - 2013
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Documents how real estate giant Tishman Speyer and its partner, BlackRock, lost billions of investor dollars in a single failed deal and explores how the events surrounding the infamous deal reflected the ongoing real estate crisis.
Publisher: New York : Dutton, c2013
Description: xxviii, 387 p. : ill., maps ; 24 cm
ISBN: 9780525952657
Branch Call Number: 333.7715 Bag


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Jul 23, 2014

Ahhh....but did BlackRock, through a series of offshore vehicles, purchase naked swaps [uncovered credit default swaps] against those losses [also known as credit events] and thereby actually profit? [FYI: President Obama's latest appointment to head HHS was director at MetLife when they became an overnight bank holding company.]

Jun 14, 2013

This is a fine book but oh how I wish it had an index and an appendix describing the key players. I finished reading the entire book before understanding much of what was going on. On the other hand it reads like a thriller. I could not put it down.

May 28, 2013

In 2014, The Stranger newspaper ran several stories, written by Marti Jonjak, which was basically the same as this book, wherein private equity firms and their subset, the property management firms, purchased her building, except that took place on a smaller financial level. Same situation, though. Instead of Pacific Living Properties, in this book it was BlackRock and Tishman Speyer (MetLife as an investor). The better question? Then why was BlackRock put in charge of overseeing those TARP bailout funds? Why was the insurance company, MetLife, allowed to become a bank holding company just to collect on those TARP bailout funds? The Big Question: did BlackRock, through a series of offshore vehicles, purchase a number of naked swaps and therefore profit from that gigantic loss?

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