I wonder if a Goldman Sachs executive would spend a night in the house above? After all, they do kind of "own" it.
The house, in the Slavic Village neighborhood of Cleveland, had a mortgage that was part of the Goldman Sachs synthetic CDO, ABACUS 2007-AC1. In 2008, the house was foreclosed upon, and still sits abandoned today.
At least the ivy devouring the south side of the building seems happy.
I am writing this in the Red Chimney restaurant, a social hub for the locals in Slavic Village. This place is probably the only thing that has not changed drastically in the last ten years in this neighborhood. It feels very comfortable -- old networks get rejuvenated here. Every community needs a gathering place, especially in times of trouble.
For an in-depth look at the players and financial flows involving this house , see Connecting the Dots of the Mortgage Meltdown.
Valdis recently helped CNBC with a documentary about Goldman Sachs and the recent mortgage crisis.
Next time, when taking a shot at Goldman, choose an uglier home. This place looks delightful.
ReplyDeleteThis article is short but it goes straight to the point. Only a few people can do this an I appreciate the great work done in this article. Regarding the photo used, it is true that the house is really delightful but I guess the surrounding or the "neighboring" houses gives the exact point of the article.
ReplyDeleteThanks for sharing this!
Alex
Hi, great article, short but great, thanks
ReplyDeleteGreat article, I do really appreciate your work. Although the article is short it clearly states a point of view. Thanks!
ReplyDeleteSandra.
I heard that the situation tends to stabilize. Too bad as the people are losing their homes and other properties. It is not fair
ReplyDeleteNice house. Good documentary. Thanks
ReplyDeleteA pity that such a house is abandoned.
ReplyDeleteGreetigns from Spain.
Very good point Alex, I completely agree with you
ReplyDeleteThanks
Kevin
Maybe a Morgan Stanley not, but a JP Morgan will and a McKinsey & Co too....They same guys, the same stuff....
ReplyDeleteNice house, the article is short but tells what it means .. good work thanks.
ReplyDeletethis very good article interesting, concrete and no longer
ReplyDeletepity that the house is abandoned when the world there are people sleeping on the streets, very good photo stop me most of all in society captures the pure
ReplyDeleteMar greetings
hanks for the article, the photograph captures the mystical, essential, evil to waste the house with the need for people
ReplyDeleteHi, great article, short but great, thanks
ReplyDeleteexcellent article seems very good contribution
ReplyDeletegood information, I hope people continue to assist with the publication of articles of this quality
ReplyDeleteTnahk you for the information!
ReplyDeleteI heard that the situation tends to stabilize. Too bad as the people are losing their homes and other properties. It is not fair
ReplyDeleteTnahk you for the information!
ReplyDeleteGood information, I hope people continue to assist with the publication of articles of this quality.
ReplyDeleteI agree, how much history in that house. I stared at the picture for a while, the truth is loaded note good and bad memories, but generates a rare look at energy.
ReplyDeleteregards.
What a beautiful picture, it is good that despite the huge modern buildings still standing today these homes that enrich those who look carefully, perhaps causing the viewer a hint of melancholy. Hopefully these landscapes never miss in this technological world.
ReplyDelete