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  • Jim Costa

Jim’s Daily Rant. The New Replacements For The Leaning Tower Of Pisa.

The Leaning Tower has been a major tourist spot in Italy since the 1200s. My question is when will the travel brochures be delivered on the Pisa’s replacement?


Of course I am talking about all the big banks that are desperately unloading their commercial real estate like there is no tomorrow for them.


This article says it all UBS auctions Midtown Manhattan office at $8 per SF, highlighting NYC real estate struggles. UBS sold the property a few years back for $285M (a hundred year lease). Then they leased it back for $221M. They may sell it for 2 cents on the Dollar (7M/285M).


While the Leaning Tower of Pisa leans 4 degrees, this means the UBS Bank tower leans about 45 degrees and is a miracle it hasn’t fallen over yet. Could fraud be propping it up?


It’s not just UBS selling out Commercial Real Estate in a panic now, but 2 Cents on the Dollar?


The Banksters are truly in a race to topple over and hit the bottom first. Get your tour tickets now Folks.

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