[bsrsharma]

esmith: they don’t have to pay money to US government. They have to just structure the transaction such that it looks like an investment in US. There are companies that specialize in that. Like for e.g. set up a REIT that buys the house etc.. La Jolla is also nearer to South America than Mediterranean. Many South Americans own property in Miami. San Diego is well suited to become a western equivalent.

[bsrsharma]

For a super rich Brazilian businessman, La Jolla can be a nice summer home when it is winter in the south (and a good winter home for holidays when it is hot and humid in the south). Plus, you don’t have to go around with a phalanx of bodyguards to prevent getting shot down or kidnapped for which Brazil is well known.

Visa restrictions are only to keep poor people out. For a million $, you can buy a green card (officially called ‘Investor Visa’) directly from US government. Another way would be the lottery system (“Diversity Visa”). I have never heard of a millionaire being refused a visa (unless he is some sort of political troublemaker or criminal).

[bsrsharma]

For a super rich Brazilian businessman, La Jolla can be a nice summer home when it is winter in the south (and a good winter home for holidays when it is hot and humid in the south). Plus, you don’t have to go around with a phalanx of bodyguards to prevent getting shot down or kidnapped for which Brazil is well known.

Visa restrictions are only to keep poor people out. For a million $, you can buy a green card (officially called ‘Investor Visa’) directly from US government. Another way would be the lottery system (“Diversity Visa”). I have never heard of a millionaire being refused a visa (unless he is some sort of political troublemaker or criminal).

[bsrsharma]

May be at first, but the hope is eventually, you will end up eating it, after all the trading. They may even serve it with free (authentic) McD fries to fool you into believing the burgers are McD’s. { This is the basis of CDOs, where they add some flavoring of good debt to floor sweepings and sell them as “hotdogs” }

[bsrsharma]

May be at first, but the hope is eventually, you will end up eating it, after all the trading. They may even serve it with free (authentic) McD fries to fool you into believing the burgers are McD’s. { This is the basis of CDOs, where they add some flavoring of good debt to floor sweepings and sell them as “hotdogs” }

[bsrsharma]

why this isn't an antitrust violation?

What antitrust violation when the U.S. Treasury goads unwilling bankers into collusion to prevent monetary collapse? This is more like the actions of a Banana republic where one honcho controls everything rather than free market capitalism.

[bsrsharma]

why this isn't an antitrust violation?

What antitrust violation when the U.S. Treasury goads unwilling bankers into collusion to prevent monetary collapse? This is more like the actions of a Banana republic where one honcho controls everything rather than free market capitalism.

[bsrsharma]

Isn't this like a bunch of neighbors getting together to buy each other's houses to keep the market from tanking?

The way I understand this (superficially), it is like this: you want to make some money by making burgers in your backyard and selling them. Just happens that people hesitate to buy from you. Now, you go to your friendly neighbor who works at McDonalds and get  him to wrap your burgers in McD wrapper and sell them as BigMacs. Now, since McDonald corp was not really robbed of any monetary asset (if you ignore the cost of wrappers), they may never come to know about this. But you have fooled people into paying BigMac prices for your backyard burger and made money.

[bsrsharma]

Isn't this like a bunch of neighbors getting together to buy each other's houses to keep the market from tanking?

The way I understand this (superficially), it is like this: you want to make some money by making burgers in your backyard and selling them. Just happens that people hesitate to buy from you. Now, you go to your friendly neighbor who works at McDonalds and get  him to wrap your burgers in McD wrapper and sell them as BigMacs. Now, since McDonald corp was not really robbed of any monetary asset (if you ignore the cost of wrappers), they may never come to know about this. But you have fooled people into paying BigMac prices for your backyard burger and made money.

[bsrsharma]

I read it as Citi Bank at first. Why should they copycat even bank names? Funny when you consider a British bank (HSBC) is named HongKong & Shanghai Banking Corp.

[bsrsharma]

I read it as Citi Bank at first. Why should they copycat even bank names? Funny when you consider a British bank (HSBC) is named HongKong & Shanghai Banking Corp.

[bsrsharma]

They are surely not worthless; but a realistic pricing based on underlying assets should deflate them by at least 50%. That can have unimaginable chain reaction in the leveraged and derivative markets resulting in end result that is not hugely different from repricing to zero.

[bsrsharma]

They are surely not worthless; but a realistic pricing based on underlying assets should deflate them by at least 50%. That can have unimaginable chain reaction in the leveraged and derivative markets resulting in end result that is not hugely different from repricing to zero.

[bsrsharma]

I think this may be attractive to a foreigner with strong currency. Multimillion $ properties don’t have to follow normal RE market, especially if they are bought for cash with a currency that may make $2.5M appear like $1.2M, after translation. That may also explain why the agent didn’t take you seriously. { I am assuming you are not a foreigner with $2.5M cash }

[bsrsharma]

I think this may be attractive to a foreigner with strong currency. Multimillion $ properties don’t have to follow normal RE market, especially if they are bought for cash with a currency that may make $2.5M appear like $1.2M, after translation. That may also explain why the agent didn’t take you seriously. { I am assuming you are not a foreigner with $2.5M cash }

[Author]

Posts