As a coda to last week's reports about the scammed Uzan Properties auction, NYPost real estate section reporter Adam Bonislawski kept a minute-by-minute diary of the goings on. Excerpt:
12:35 p.m.: The officer announces that bidders will need a certified check for 10 percent of the purchase price immediately upon winning a bid. "Checks must be made out to the NYC Sheriff's Department," he says. This shouldn't be a surprise, but to one man, it is. He begins yelling that he hadn't read that anywhere. As the upset man continues to scream, the officer threatens to throw him out of the courtroom. He quiets down.And people say you should take the emotion out of investment decisions.
· Big Bidness [NYPost]