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Robert Frank looks at the lives and culture of the wealthy. |
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2010 in Richistan: The Year of the Muddling MillionairesDec 30, 2009
At the beginning of 2009, the rich looked doomed.
Getty Images
The population of U.S. millionaires shrunk more than 15% in 2008. With Lehman Brothers Holdings having collapsed, 2009 was shaping up to be even worse. Stocks were falling, along with...
Oligarch Wants His $56 Million Deposit BackDec 22, 2009
Real-estate deposits are typically fairly straightforward. When you sign a purchase contract, you put down 10% (more or less) as a pledge of commitment. If you back out, you lose it.
AFP/Getty Images
The villa of Leopolda, in August 2008.
Unless you...
Caviar Replaced by Turkey Sandwiches on Private JetsDec 21, 2009
Private-jet travel may be making a comeback, but the in-flight food is still in recession.
(Courtesy of the Bombardier Web site)
“Turkey again?”
According to an article on gather.com, some of the nation’s private-jet caterers are seeing a noticeable...
More Wealthy Default on Their MansionsDec 18, 2009
The sub-prime crisis has turned into the super-prime crisis.
Homeowners with mortgages of more than $1 million are now defaulting at nearly three times last year’s rate, according to a Bloomberg article.
Payments on about 12% of mortgages exceeding...
Do the Rich Owe America for Their Fortunes?Dec 17, 2009
United For a Fair Economy, the left-leaning policy group, held a press call Tuesday to argue for preserving the estate tax before it temporarily expires in 2010.
Bloomberg News
No such thing as self-made
During the call, Vanguard-founder Jack Bogle...
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