EMI was put up for sale by Citigroup, after the bank foreclosed on private equity firm Terra Firma, which bought the music company for $6.8bn in 2007.
"Foreclosed: Rehousing the American Dream" at the Museum of Modern Art (MoMA) manages to bowl over the visitor within the first 15 seconds.
But his life is not too constrained: he still has a mobile phone and satellite TV.Special report Repent at leisure Paradise foreclosed The morning after Betting the balance-sheet A better bust?
In short, it paid to borrow and it paid to lend.Special report Repent at leisure Paradise foreclosed The morning after Betting the balance-sheet A better bust?
A similar institution in Massachusetts, Boston Community Capital (BCC), aims not to get poor Bostonians into homes but to keep them there: BCC buys foreclosed houses from banks and resells them to the original owners with 30-year, fixed-rate mortgages.
Some 4m foreclosed homes could come onto America's market, which may hold down prices.The second question is whether home prices in markets that are still overvalued are likely to fall.
With few new homes being built and a huge overhang of dwellings that have been foreclosed on, abandoned or left vacant for other reasons, the pay-television providers were bound to take a hit.
Some have been less kind, chaining them to fences or locking them inside their foreclosed homes.
When homes are foreclosed upon and sold by lenders, the discount rises to 35%, largely because the property is not being maintained.
Part of the reason for this distress is that the strong dollar has dragged the peso to damaging heights; also, with monetary policy foreclosed, it is hard for the authorities to stimulate demand.Interior designDoes this show that the currency-board regime was a mistake?
Since such people would normally be arrested as accessories, the ruling, in effect, foreclosed the policy.Fear, and its effectBut it highlighted the problem, inherent in any legal system, of deterring an assailant who is determined to die.
