Best of the Web 11/17: Meet the New Land Barron, Tiny Island Favors Gold vs Dollars, Mortgage Delinquency Up Again, Silverdome Sells For Near Nothing
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StreetInsider.com Best of the Web
- The FDIC is the newest Land Barron after seizing over 150 failed bank and 5,000 houses, subdivisions, buildings, parcels and other foreclosed assets. For more than a year, the FDIC has been trying to sell Dresden Heights, a failed condo development.
- The tiny island of Mauritius buys 2 metric tons of Gold from the IMF for $71.7 million as the latest example of countries diversifying away from the U.S. dollar. Related ETF (NYSE: GLD)
- Transunion said mortgage loan delinquency (the ratio of borrowers 60 or more days past due) increased for the 11th straight quarter, hitting an all-time national average high of 6.25 percent for the third quarter of 2009.
- The Pontiac Silverdome, which is located just outside Detroit MI, sold for $583K after costing taxpayers $55.7 million to build 35 years ago.
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