Wall St bonuses are back...sparking bidding wars for mansions in the Hamptons

[SAMSON123]

They've got to be kidding right??

Wall St bonuses are back...  sparking bidding wars again for mansions in the Hamptons

By Daily Mail Reporter
Last updated at 7:01 PM on 7th March 2011

   
Bonuses are back on Wall Street, leading to a boom in the sale of mansions in the Hamptons.

Bankers and traders are buying houses with pools and tennis courts in the $1 million to $10 million range or booking luxury rentals for the summer.

The market is so heated that some property brokers are going door-to-door to let owners know how much they could make renting out their Long Island homes.


One of the luxury properties in the Hamptons. Some of the estates have been snapped up recently for as much as $10 million



Hot property: Homes in the Hamptons are selling quickly or for high summer rents

The Hamptons was hit hardest by the Lehman Brother crash and the backlash against bonuses on Wall Street - but that picture is changing with big six-figure  bonuses being handed out.

Marc Heskell, associate broker at Corcoran, in Sag Harbor, who covers Southampton to Montauk, told the New York Post: 'It's a bonus environment.


Greed: Trader Gordon Gekko from Wall Street. Now big six-figure bonuses are back

'There is no question that with hedge funds, venture funds and all across Wall Street there is a new confidence, reflective of people knowing about their bonuses since the end of last year.'

In its end-of-year 2010 report, Corcoran suggests prices in the most desirable parts of the Hamptons would rise in early 2011.

Hedge-fund manager John Paulson has a 25-room estate, set on 104 acres on Lake Agawam in Southampton that he bought for $41.3 million.

There are 13 bedrooms, a pool, a tennis court, a carriage house and a guesthouse.

When Anne Eisenhower, a granddaughter of the former president bought her Southampton estate in 1995 she paid $5 million. She has recently sold it for a reported $35 million.

Another to change hands was the 6.5-acre ocean-front home in Sagaponack of  Joanne Corzine, the ex-wife of former Goldman Sachs CEO Jon Corzine. It went for $43.5 million.

Other Wall Street giants who have homes in the Hamptons include George Soros, David Koch, Ron Perelman, Ron Baron and Leon Black,

Dolly Lenz, a vice chairman at Prudential Douglas in New York, told the Post that Hamptons rentals and sales were being bid up, one after the other.

She said people were signing up to expensive rentals, and were taking the summer to explore buying property.

Cia Comnas, executive managing director at Brown Harris Stevens in the Hamptons, said buyers began looking at properties in December and January despite the snowstorms.

Judi Desiderio, chief executive officer of Town & Country Real Estate in East Hampton, has seen contracts hit a high in the past four months.

She has witnessed bidding wars for sales over $4 million each while owners are asking rentals ranging from $40,000 to $200,000.

Read more: http://www.dailymail.co.uk/news/article-1363647/Wall-St-bonuses-sparking-bidding-wars-mansions-Hamptons.html#ixzz1Fx0NaRVW

[Soul Crusher]

I see these scumbags on the subway all the time and want puke seeng them in their little loafers and Brooks Bros coats.   

[Soul Crusher]

Bill Daley, White House Chief Of Staff, Pressed About Lack Of Jail Time For Wall Street Culprits 
 Source: Huffington Post

Bill Daley, White House Chief Of Staff, Pressed About Lack Of Jail Time For Wall Street Culprits

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Appearing on NBC’s “Meet the Press,” Daley, who worked as an executive at JP Morgan prior to joining the White House, said it wasn’t the role of a politician, let alone a president, to weigh in on judicial matters. Besides that, he added, the reforms that Obama instituted years after the crash occurred were indicative of his dissatisfaction with the financial sector.

“I think the president, no one has been more out front on the need for financial reform,” said Daley. “Obviously the justice system will take its place and the politicians should not engage in trying to say who should be prosecuted or who should not. That is not a responsible thing to do. You have a number of attorney generals moving forward on cases that are legitimate. But the president felt very strongly — that’s why he fought so hard for national regulatory reform — that the system has got to change.

“Most of the laws that the financial sector worked under were enacted closer to the Civil War than to this century. He fought, it was tough, to be honest with you, I was in an industry that… fought many of it, not all of it, probably 85 percent of it the industry wanted. They wanted to stop too-big-to-fail and a number of other of things. But it was controversial, difficult, but he hung in there and got what he wanted.”

Pressed a bit further, Daley refused once again to say whether “it is illegitimate or not” for the people to demand jail time for the culprits of the crash. “Politicians should not get involved. Producers, directors can do that. But politicians should not get involved.”

Read more: http://www.huffingtonpost.com/2011/03/06/white-house-da...