It looks like the 2010 Olympic Village will need at least another half a billion dollars to see the project to completion. TheNew York hedge fund that originally underwrote the financing to the tune of 750,000,000 is likely unable and/or unwilling to complete the project. It has offered to put up the money if the city guarantees the loans. Lets hope the new mayor, (pictured in the green beanie), doesn't get sucked into a Fortress Group bail-out.
Tuesday, January 13, 2009
Vancouver 2010 Olympic Village FINANCE-ALANCHE!
It looks like the 2010 Olympic Village will need at least another half a billion dollars to see the project to completion. TheNew York hedge fund that originally underwrote the financing to the tune of 750,000,000 is likely unable and/or unwilling to complete the project. It has offered to put up the money if the city guarantees the loans. Lets hope the new mayor, (pictured in the green beanie), doesn't get sucked into a Fortress Group bail-out.
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