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Monday, September 22, 2008
Grab the pitchforks and torches, Part II
The Atlanta Journal-Constitution
Guess how much the top five firms on Wall Street — Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley — paid in executive bonuses last year alone. I’m talking bonuses alone — not salary, not options, just bonuses.
When you have a figure in mind, open the comments. Oh, and remember that the stocks of those five firms fell a combined $74 billion in 2007.
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Here’s a map of the real estate crisis
The Atlanta Journal-Constitution
The scale of the current financial crisis is difficult to grasp, but here’s one little piece of information that might help.
It’s a map compiled by realtytrak.com, which tracks foreclosure listings all over the country. You can plug in a zip code and see the properties that are bank-owned or scheduled for auction in that area.
The link above takes you to a map of part of the 30022 zip code near affluent Alpharetta, focused more tightly on the area surrounding the Country Club of the South. It lists 230 properties in various stages of foreclosure. Some are listed as low as $100,000, which suggests they must be condo units. Others list for well over $1 million — the most expensive I saw was at $2.5 million, although some may be higher.
It is a very sobering thing to see.
