Asking prices are tumbling on what used to be known — in that other, less humble era a few months ago — as trophy apartments. But few sellers have suffered the market indignities of Ramesh Singh, a banker who should know something about real estate. He became a wealthy man, bundling mortgages and other debt for UBS, the now-troubled Swiss bank.
By Josh Barbanel, March 8, 2009, NYT

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