Reply #13: Predators, now prey. In the lobby, a realtor hawking cheaper apartments to employees [View All]

[Robbien]

At the Madison Avenue entrance, Ray Schmitz, a Realtor with Coldwell Banker, was betting that with the value of their stock options in tatters, Bear's employees might soon be looking to trade their luxury homes for something a little easier on the budget.

"You have to go where the business is," Schmitz said as he handed out business cards. "A lot of these people are going to lose their jobs, and most of their wealth will have been in share options. They're soon going to be looking for a cheaper place to live."

http://www.reuters.com/article/businessNews/idUSN1756862020080317?sp=true

Ironic, the people who made a fortune from issuing subprime debt, now being offered subprime apartments.