Sunday, December 28, 2008

East River Plaza, Blumenfeld and Ratner

Yes, the crash is on. Blumenfeld is a partner in the East River Plaza megaproject, and he lost a lot of money in the Madoff Investments. And it goes out from there, because Blumenfeld Developers Group, BDG, is partners with Forest Ratner in the East River Plaza project. Forest Ratner in turn is involved in real estate development projects in Brooklyn, like Brooklyn Yards, a mega-project. Forest Ratners is building things from Henderson Nevada to Redondo Beach, California. So the chain reaction of the Ponzi scheme is now going into reverse leverage. Shoulda listened to Larouche, Harlem brother man.

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