As outlined exactly one year ago to the day, this is how it goes…
As a by the by, the excerpt below also highlights (though unwittingly I think) the dilemma of government vis-a-vis the banks that have been allowed to diregard mark to market accounting rules….
“Mr Halabi’s property empire was first revealed to be in trouble last June when a revaluation of his London office portfolio put its value at £929m, compared with £1.8bn in 2006. ”
Tic, toc…. tic, toc… tic, toc….