Donald Trump to be Ed McMahon's Landlord

Random sycophant wanna be Trump: But Mr Trump we raised a level of brand experience for the product...

Trump. Look, I've heard enough, you're fired
Ed McMahon: hiiiiii oooooooooooooohhh

I thought Johnnie Carson paid Ed to be on his show. I guess not. What happened to the bazillion dollars he made on the show and also doing a Budweiser commercials? Doesn't he get social security?

Trump is so kind hearted, isn't he? I'm sure the lease terms will be sympathetic.

or were suckered into bad mortgage loans by his banker buddies

I sympathize with the hardship of facing foreclosure, but I don't agree with the victimization spin. People who borrowed more more than they should have with adjustible rate mortgages SHOULD have made the effort to understand what they were getting into. The risk of no money down ARMS was published in magazines, books, newspapers, making ignorance a poor excuse. A lot of people bought homes with monthly payments they could barely afford because they thought prices could only go up and that they would get equity from the inevitable rise. They took a gamble and lost.

Worse, their ignorant, irresponsible behavior is at our expense, as our monetary policy is adjusted to bail them out and our leaders creates policies that effectively reward people for their bad decisions.

I think it's funny that many in NYC seem to think that, because the real estate has held up okay so far, we are immune from what ails the rest of the country. It's too soon to tell. The more likely scenario, in my opinion, is that though we are standing now, we'll be hit harder by the aftershock. Bank write-downs are ongoing, and bank layoffs, at around 30,000 so far, seem likely to continue. The full effect of this hasn't rippled through our local economy yet.

One thing that has helped insulate housing are co-op building restrictions requiring larger downpayments and cash reserves. Coop owners are probably in a better position to weather a downturn. In a hot real estate market, restrictions were bad; condos were conversely more attainable and more expensive. A 1M coop apt might want 250k down while a 1.5M condo would need only 75-150k down.

If you can afford the monthly payments, you can afford it. Not just afford it, but deserve it. That's the American way.

Hard to feel sorry for this guy--he made millions. It's his own damned fault he doesn't have any money now or got some kind of stupid-assed variable rate mortgage.

Let's understand something, banks have a responsibility to their shareholders, employees, depositors, and borrowers. They are the one's at fault. The mortgage brokers that they worked with were the ones that brought in the customers. A mortgage broker was the guy that showed them how to lie on a loan request and in many cases bribed bank employees to pass phony applications. Who checked the credit and the inflated incomes? That was the lender's job and they didn't do it. . A poor slob with the dream of owning a home shouldn't shoulder all the blame. Meanwhile Bear Sterns bit the dust, Citicorp had to sell much of their worth for oil money, many thousands of people lost their jobs and the economy has tanked. Banks have to be regulated and sat on constantly or this will happen again.

"You may already be a loser"

Must be Adopt-a-Millionaire Week.