Goldman Following Through on Bed Stuy Housing
Goldman Sachs may be plowing some of the profits it made from the subprime crisis back into one of the Brooklyn neighborhoods hit hardest by the meltdown. Two years ago, we reported that Goldman was teaming up with BRP (the developer behind The Clermont and the Home for Old Ladies) to build an 84-unit project…
Goldman Sachs may be plowing some of the profits it made from the subprime crisis back into one of the Brooklyn neighborhoods hit hardest by the meltdown. Two years ago, we reported that Goldman was teaming up with BRP (the developer behind The Clermont and the Home for Old Ladies) to build an 84-unit project with lots of affordable housing on the site of a row of abandoned walk-ups on Fulton Street between Marcus Garvey Boulevard and Albany Avenue in Bed Stuy. (The group ponied up close to $10 million in late 2007 for the buildings and air rights that come with them.) Yesterday, the Bed-Stuy Blog reported that a construction fence has gone up in front of the buildings in anticipation of a controlled demolition with asbestos in place; the abatement is set to begin within the next few days. For more background analysis of Goldman’s Urban Investment Group, check out My Brooklyn Report. GMAP
Photo from Bed-Stuy Blog
Goldman didnt do sh+t. the taxpayers are footing the bill for these faux projects.
*rob*
“I’m the guy that got you that 2% ARM that is now resetting to 7%. Want to do something about it?”
Yes, they were forced down everyone’s throat.
Ever stop to think that it was just another level of greed????? All that crap was done at a very local level, by local banks.
Appropriate punishment for Goldman Blood Suckers: Make them live in Bed Stuy and wear signs that say: “I’m the guy that got you that 2% ARM that is now resetting to 7%. Want to do something about it?”
Time to move on, hannible.
Hannible – your paragraph would pull more weight if you didn’t use the term “blood sucking” twice. Thesaurus homie
OK, DIBS. You win! I can’t draw a direct parallel between the massive number of delinquent loans in Bed Stuy and Goldman. And I am not going to waste my time trying.
However, there is no question that Goldman was at the heart of the housing crisis, fraudulant CDO, AIG/NY Fed scandal that has been the number one financial story for the last few years.
Dirty Hipster how dare you speak bad of DIBS blood sucking friends. DIBS really believes in his heart that Goldman and all those other blood sucking parisites that speculated on the housing bubble deserve all their ill gotten money and that their profits were earned all fair and square. Tar and feather them all I say. The only bonus I would give them is a blindfold at the firing squad!
Goldman Suchs
How did they help wreck Bed Stuy, DCB???