Weekly Twitter Digest (Link Roundup) for 2010-04-17

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About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.


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    Mastro’s waiver of the discharge isn’t all that strange. I’ve seen it in a few other mega-bankruptcies. While I don’t have any insight into this particular one, in other bankruptcies it’s either a sign that there’s no real defense, or a strategic decision to get the investigation by the UST and other creditors to stop (although once the creditors get a judgment they can again start investigating, and the trustee can continue to investigate). It can also be a sign that they simply can’t pay for the defense.

    I remember in one large case where the creditor was trying to reduce its claim to judgment, there was an argument over the amount. The difference was over $100,000.00. The judge, while signing the judgment for the larger amount, indicated that because of the total debt owed to all creditors, it didn’t really matter which amount was right!

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    softwarengineer says:

    Your Twitter Results Indicate

    The manure has hit the fan, Tim.

    The Goldman lawsuit was just the tip of the iceberg too, article in part:

    “…Wall Street giant Goldman Sachs faced charges of financial fraud on Saturday as US financial firms eyed the prospect of a wider crackdown on those that bet on the collapse of the housing market….”


    Perhaps all the Seattle Bubble type complaints about the banking fraud are getting at least partial lawsuit exposure(s)….time will tell.

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