CJR, until the real estate deal comes in I have a plan
posted on
Jul 29, 2008 01:42PM
Boss and I are already in, and you are welcome to join us (as are other dedicated hard working longs). The deal was inspired by Merrill -- we buy ALL of the CDOs that are burdening the financial system, one minor detail is that the sellers finance 100% of the purchase price and have recourse liability. It takes it off their books and makes us multi-billionaires overnight, assuming that anyone actually pays off the underlying debt or that we could actually figure out the underlying debt.
It seems quite promising and current CDO holders seem pretty desperate. Your role would be to call all the potential sellers and make the deal, then we buy building on Grand Cayman to use as HQ, then sit back and hope.