Credit Suisse Project Funding Explained

[David Druzisky]

Anyone interested in learning more about the downfall of big projects and courses like Yellowstone Club, Osprey Meadows at Tamarack, Ginn etc, I came across this in depth article about it all.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aT4PzNc1EgrU&refer=home

DbD

[Carl Johnson]

Thanks for the post.  You'd think we'd learn, but as illustrated by the apparent Ginn repeat, probably not.

[Bruce Katona]

I remember going to see these guys about 10 years ago to finance a deal 10 minutes from Nassu International Airport in the Bahamas....the site was planned for housing, 20 ocean front lots which were all pre-sold, golf and a marina....the site is adjacent to Lyford Cay....it was a slam dunk....we got a NO, as it was an international deal and they CSFB didn;t want the risk of money going offshore....I guess we didn't ask nicely enough.

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