In 'Other People's Money,' Charles V. Bagli unravels the high-stakes world of real estate financing in New York City. As he navigates through scandal and ambition, Bagli reveals how fortunes are made and lost on the backs of unsuspecting investors. The narrative is a gripping exploration of greed, power, and the complexities of ethical investment. With vivid character portraits and meticulous research, the book exposes the secretive dealings of industry moguls. This compelling read raises the question: what happens when the thirst for profit overshadows principles?
By Charles V. Bagli
Published: 2014
"In the world of finance, the true value of money lies not in its accumulation, but in its ability to shape destinies and transform landscapes."
A veteran New York Times reporter dissects the most spectacular failure in real estate history Real estate giant Tishman Speyer and its partner, BlackRock, lost billions of dollars when their much-vaunted purchase of Stuyvesant Town–Peter Cooper Village in New York City failed to deliver the expected profits. But how did Tishman Speyer walk away from the deal unscathed, while others took the financial hit—and MetLife scored a $3 billion profit? Illuminating the world of big real estate the way Too Big to Fail did for banks, Other People’s Money is a riveting account of politics, high finance, and the hubris that ultimately led to the nationwide real estate meltdown.
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“In the world of finance, the true value of money lies not in its accumulation, but in its ability to shape destinies and transform landscapes.”
Other People's Money
By Charles V. Bagli
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Charles V. Bagli is a distinguished author and journalist known for his incisive commentary on urban development and real estate in New York City. He has written extensively for The New York Times, where he has covered various aspects of city life, politics, and infrastructure. Among his notable works is 'Other People's Money: The Rise and Fall of the Great American Foreclosure Boom,' which explores the complexities of the foreclosure crisis and its impact on communities. Bagli's writing is characterized by its thorough research, compelling narratives, and a keen insight into the socio-economic factors shaping urban landscapes.
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