Former Treasury Secretary Paulson loses $1 million selling D.C. home

[deminks]

http://thehill.com/blogs/on-the-money/personnel-notes/135517-former-treasury-secretary-paulson-loses-1-million-selling-dc-home

Former Treasury Secretary Henry Paulson, who spent his final years in George W. Bush's administration trying to stave off the housing crisis gripping the nation, has lost over $1 million selling his own Washington, D.C., home.

Paulson sold his three-bedroom home in the nation's capital for roughly $1 million less than he paid for it, and nearly a third less than his original asking price, according to Reuters.

Paulson in 2006 paid $4.3 million for the home, near the National Cathedral and the official home of the vice president in northwest Washington. He listed it for $4.6 million when putting it up for sale in April, and later lowered it to $4.15 million.

But it did not sell until Dec. 21, when it was bought for $3.25 million, good for a 24.4 percent drop in value.

The former head of Goldman Sachs is expected to weather the loss fairly well. His net worth was estimated to be as much as $700 million in 2008.

:nopity: I hear tiny violins

[Donnachaidh]

1. my heart bleeds purple panther piss for his loss!

Really! :sarcasm:

:nopity:

[Rex]

2. Amazing, We get fucked over by the Somewhat rich while the Uber

rich rake in billions from the Somewhat riches criminal endeavors (paid for by the Ubers). All that and what do We working class stiffs get to fight over? healthcare and tax cuts. Table scraps from our overlords. :banghead:

[LiberalFighter]

3. They really need homes worth more than $500k

It is to make up for the lack of size between their legs.

[RKP5637]

4. Pocket change! n/t

[gratuitous]

5. And we listen to him because he's a financial genius

Of course, not too many of us could take it in the shorts for a million bucks and just shrug it off. My own fault for not choosing to be a robber baron of the first water.

[MindandSoul]

6. Couldn't happen to a nicer guy!!! I'm sure he'll survive with his $3.25 millions sale!

[onehandle]

7. What a dumbass. He could have afforded to ride out the recession... Wait. Who did he sell it to?

Somebody he owed a favor?

[DCKit]

11. Excellent point. However, he padded the pockets of a lot of really rich people...

it should have sold for $325 million. But then they'd have to pay the property taxes.

[kestrel91316]

8. Boo hoo. That's pocket change for these people.

[GoCubsGo]

9. That Karma sure is a bitch, ain't she? n/t

[DCKit]

10. Only $1 million and change per bedroom. What a bargain. nt

[awoke_in_2003]

12. oh, the heartbreak....

where, oh where, shall he go from here:

http://en.wikipedia.org/wiki/Barrington_Hills,_Illinois

[lumberjack_jeff]

13. Heckuva job, Henry.

It's good to see that he's taking the skills which served him so well in government, back to his private live.