by Calculated Risk on 10/02/2009 03:56:00 PM

Click on graph for larger image in new window.

This graph is from Doug Short of dshort.com (financial planner): "Four Bad Bears".

Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500.

From the WSJ: Starwood-Led Group Likely Winner of Corus Assets

... a group of investors led by ... Starwood Capital Group is emerging as the likely winner ... of the failed Corus Bank's condominium loans and other property ...

The assets have a face value of about $5 billion but the winning bid is expected to be far less than that ... To minimize the losses to taxpayers from the failure of Corus, the FDIC will take a 60% equity stake in the partnership that ends up owning the Corus assets ...The FDIC also will provide financing to the partnership.

And more hotels going down ... from a Lodgian press release: (ht Zach)

The Merrill Lynch Fixed Rate Pool 3, secured by six hotels, is in default. The loan matured on October 1, 2009. The company has engaged in negotiations with the lender regarding extension and modification of the loan, with no resolution to date. Unless some agreement is reached in the near-term, the company intends to return the hotels to the lender in full satisfaction of the debt;

The company has stopped servicing the debt secured by the Crowne Plaza in Worcester, Mass., and intends to return the hotel to the lender in full satisfaction of the debt;