Fat-Cat Palace is a 'Cra$h' Pad
Look what taxpayers' Wall Street rescue helped buy one former honcho!
Peter Kraus - a former top executive at Merrill Lynch who received a $25 million golden parachute after only three months' work - has landed himself a $37 million Park Avenue pad.
Kraus, 55, doled out the staggering sum for the five-bedroom co-op at 720 Park Ave. near East 70th Street after taking $25 million from Merrill after the company was sold to Bank of America ...
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I have to applaud Kraus for doing his bit to keep real estate values from tanking. However, judging by the other comments people have the wrong attitude. Too much politics of envy. We need more rich people in America. Those are the people with money to invest. Without investment there are fewer jobs. We should be lowering taxes on the rich so more of them come to America. We are going to need their money.