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Billionaire Bill Bartmann, 100 Partners Raising $1 Billion To Purchase Toxic Assets

Date Published: 08th May 2009
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Author: Bill Bartmann RSS Views: N/A PRINT ASK ABOUT THIS ARTICLE
"Bill Bartmann is going back into debt, investing in it rather than collecting it. The billionaire and co-founder of Commercial Financial Services, Inc, a debt collection company that employed over 3,900 people in the 1990’s, has a desire to help people buy failing real estate securities from the government.
Bill Bartmann is organizing a private equity fund to help investors purchase “toxic assets,” which he predicts will attract more than $1 billion in investments. Industry professionals define toxic assets as those that include commercial or residential real estate loans that are not performing. The loans include collateralized mortgage obligations or debt securities which are made up of subprime loans.
Bill Bartmann said the fund will take advantage of the Obama administration’s plan to auction off pools of toxic residential mortgages through the Federal deposit Insurance Corp. The auctions are set up to help restore the nation’s economy by encouraging investment, helping the bank’s balance sheets and urging them to lend more freely.

The FDIC will back 5/6 of the purchase price of these toxic assets and half of the remaining 1/6 of the price will be paid by the Treasury Department with the other half being funded by investors, including Bartmann’s fund.
On March 23rd, the administration announced their intention to take over up to $1 trillion in sour mortgage securities, with the help of private investors.
Bill Bartmann says the offer will be very attractive to investors with the FDIC’s backing. “The government is taking the brunt of the risk, so the investor doesn’t stand to lose a lot,” said Bartmann. “Some risk remains based largely on how the assets perform.”
Bill Bartmann will be providing initial money while he seeks contributions from sources including investment funds and hedge funds. Bartmann doesn’t anticipate any problems in finding investors in spite of the failure of his company, CFS, which resulted in accusations of accounting fraud. Bill Bartmann was found not guilty by a federal jury who unanimously acquitted him as a bankruptcy judge apologized to him. No fraud was discovered at CFS, as intelligent investors will understand.

Bill Bartmann conducts seminars on how to grow and succeed in business. He also looks forward to the release of his new book, “Bailout Riches,” expected to be available in May. The book is about how everyday investors can make a fortune buying bad loans for pennies on the dollar.
Bill Bartmann says there is no connection between the book and the fund. The fund will accept only sophisticated investors and the book is aimed at those who do not qualify, but would like to invest elsewhere. Learn more about Bill Bartmann; read his blog at http://www.billbartmann.org

Contact:
Bill Bartmann
877 743 1152
info@Billbartmannbook.com


Tags: private investors, subprime loans, real estate loans, investment funds, treasury department, residential mortgages, mortgage obligations, federal deposit insurance, obama
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Source: http://www.articlealley.com/article_882224_15.html
About the Author
Occupation: Entrepreneur
Bill is the ultimate underdog/survivor/achiever, overcoming personal circumstances and tragedy to rise to the top enterprise in America. Homeless at age 14, a member of a street gang and a high-school dropout - Bill took control of his life by taking the GED exam and putting himself through college and law school. At the request of a bank, he took over a foreclosed oil-field pipe manufacturing plant and turned it into a million dollar a month business, until OPEC slashed the price of oil - leaving Bill out of business and a million dollars in debt. Refusing to give up, Bill and his wife & business partner, Kathy, borrowed $13,000 and created a new industry - Debt Resolution. Three years later, they had repaid the entire million dollar debt. Over the next 13 years, they grew the company to 3,900 employees with revenues in excess of $1 billion and earnings in excess of $182 million. There they pioneered novel financial instruments still utilized today on Wall Street. They also implemented unheard of perks and benefits for their employees, such as salaries at two times the industry standard, free health care, free on-site daycare, 250% 401k matching program and legendary company trips where they took ALL of the employees and their spouses on annual trips to the Bahamas, Las Vegas and Ocean Cruises. One year they leased twenty-seven 747 jets so they could fly 6,000 employees and spouses to Disney World. Bill and Kathy have individually graced the covers of national business magazines: Kathy on the cover of Forbes, and Bill on the cover of Inc. They were listed individually on the Forbes 400 Wealthiest People in America list. One national magazine ranked them number 25. In 1998, tragedy struck when Bill's former business partner committed fraud and sent the company into bankruptcy. Although Bill's former business partner told the prosecutors that he had acted without Bill's knowledge, admitted his guilt and was sent to prison, the US Attorney General, John Ashcroft, in the post-Enron business environment, indicted Bill. Five years later, after a 2 month long trial where the government called 53 witnesses and produced over 1,000 exhibits, Bill rested his case without calling a single witness or producing a single exhibit. The jury unanimously acquitted Bill on all counts. Ironically, 17 months after his acquittal and six and a half years after his company was liquidated, the Federal Bankruptcy Trustee issued his report which publicly acknowledged for the first time, "CFS was not a fraud". This experience would have embittered most people, but not Bill. He now travels the country, sharing his story of how he created his success and how he dealt with his challenges. Bill has been credited with singlehandedly changing and reforming the collection industry in America. His new mission, just as ambitious, is to "reverse the business failure rate in America". Bill is already on his way to accomplishing what has been called an impossible task. You, too, can be part of this exciting movement – a movement that will transform the face of America and improve the lives of millions of people!
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