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Saturday, September 20, 2008

09/20/08 Greenwich Real Estate Wire:


"It had been a long time coming, but in the last week, with the collapse of the investment bank Lehman Brothers and the distress sale of another, Merrill Lynch, thousands of jobs and some 700-billion dollars in wealth, in stock, simply disappeared.

"The gilded age is over," said Holly Peterson, wife of a multi-millionaire investment banker and daughter of multi-billionaire financier Pete Peterson.

"The whole era of conspicuous consumption and free spending and luxury ended as of this week," said Robert Frank, Wall Street Journal reporter and author of "Richistan," a book about America's super-rich."

Pictured is Lehman Brothers Chairman Richard Fuld's mansion in Greenwich, CT. Fuld also has an oceanfront estate in Florida and a luxury Park Avenue co-op.
And Now Here Is The Good News:
Despite Lehman's failure, Fuld's fortune remains in tact.
Please Also See:
More On Big Shots Ripping Off Honest Hardworking Taxpayers:

Seattle Post-Intelligencer

... neighborhoods and federal bailouts of huge corporations whose CEOs will retire to million-dollar homes in Greenwich, Conn., while their employees are put out of work. So wouldn't the Journal be better off if it ditched the Wall Street part of its ...

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