First, a new poster arrives asking questions about a mysterious company.

No fear mongering here, just plain old fashioned scary stuff.http://online.wsj.com/article/SB122134089502132567.htmlAnyone saying "let the banks crash" should think twice.

On a more serious note, I agree with some of your steps, but some are not only drastic, but wrong in the sense that they just can not be done.Example: Your list #9: Imagine your wife is attempting to collect rent from a past due tenant and they have agreed to pay her upon her arrival.

Just like if Yetis exist or if aliens crashed at Roswell.

Once the bond market displaces, interest rates are going through the roof, equity markets will crash, and LIBOR will be back to 500bps.

However, I don't think anyone could have stopped this crash from occurring.

The Valuation has been generated by use of proprietary computer software which assembles publicly available property records and certain proprietary data to arrive at an approximate estimate of home valuation.

That was driven, IMHO, by 1) the huge outflow of money from the stock market after the dot com crash, and 2) the very loose lending environment.

Funny part is Abu Dhabi bought into the beginning of the Financial stocks crash.

The only thing that I know about NYC real estate is that:-CRE is crashing-hundreds of thousands of bankers, traders, and fund managers are losing their jobs-The oldest and most powerful investment bank are crumbling-etc...I'm sure there is a way to make money in RE in NYC, but I wouldn't know how.