Table of Contents

Introduction xv

1 The Sub-Prime Primer 1

2 Don't Look Back! (Well, Look Back a Little) 7

3 Dressed for Distress 15

The "Grave Dancer" 18

Gross Profits 20

The Oracle of Omaha 22

Vulture vs. Value 25

Resource Guide 27

The Main Street Mind vs. the Wall Street Mind 31

Risk and Reward 36

Cash Is Trash! 41

4 Wall Street in Distress 47

Time and Money 56

Stocks to Bank On, or The World According to TARP 64

For Whom the Doorbell Tolls 79

Betting Right on REITS 83

5 Homes, Suites, Homes 93

Corroborating Evidence 94

Real Benefits 97

A Quick Cautionary Tale 101

Getting Started 107

The Foundation You Need 109

The Old-Fashioned Way 110

Buy or Build? 114

For Sale or Fore-Closure? The Real Opportunity in Real Estate 118

Do-It-Yourself Distressed 130

Get Away for Less 132

6 A Crisis in Credit 135

Take a TIP from Uncle Sam 139

Municipal Bonds 144

Making the Grade 156

Put Some Junk in Your Trunk! 163

7 The Really Big Bailout (TAF, TARP, TALF, PDCF, AMLF, CPFF, MMIFF, and PPIP) 173

Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility 174

Epilogue 179

Index 183