{"id":199351,"date":"2007-08-08T22:27:00","date_gmt":"2007-08-09T03:27:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/08\/08\/the-vultures-have-arrived-looking-for-dead-meat-investments\/"},"modified":"2007-08-08T22:27:00","modified_gmt":"2007-08-09T03:27:00","slug":"the-vultures-have-arrived-looking-for-dead-meat-investments","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/08\/08\/the-vultures-have-arrived-looking-for-dead-meat-investments\/","title":{"rendered":"The Vultures Have Arrived Looking for Dead Meat Investments."},"content":{"rendered":"<p>It appears that <a href=\"http:\/\/www.reuters.com\/article\/reutersEdge\/idUSN0643347420070807?src=080707_0738_FEATURES_interview%3A_wilbur_ross\">noted vulture investor Wilbur Ross is looking at the mortgage meltdown<\/a>.<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>He&#8217;s made a fortune picking through the bones of failed steelmakers, textile mills and coal miners. Now billionaire investor Wilbur Ross is taking aim at another beleaguered industry: subprime mortgage lenders.<\/p>\n<p>He took his first step on Monday by providing $50 million in debtor-in-possession financing for American Home Mortgage Corp (AHMIQ.PK: Quote, Profile, Research), which filed for bankruptcy earlier in the day.<\/p><\/blockquote>\n<p> He buys things like coal mines and steel companies on the cheap, and resells them to people who kill coal miners and  default on retirement and health insurance guarantees.<\/p>\n<p>Lovely fellow, and he&#8217;ll have a lot of work in the immediate future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It appears that noted vulture investor Wilbur Ross is looking at the mortgage meltdown. He&#8217;s made a fortune picking through the bones of failed steelmakers, textile mills and coal miners. Now billionaire investor Wilbur Ross is taking aim at another beleaguered industry: subprime mortgage lenders. He took his first step on Monday by providing $50 &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973],"tags":[],"class_list":["post-199351","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/199351"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=199351"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/199351\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=199351"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=199351"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=199351"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}