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.

2 comments:

  1. 1

    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!

  2. 2
    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….”

    http://news.yahoo.com/s/afp/20100417/bs_afp/usbankingpropertygoldmancompanyfraud_20100417104434

    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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