Industry NewsMarkets & Economy

Banking on humor to bail out industry

Editorial: Is this April Fools' Day?

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Editor's note: The state of the economy and real estate market has got you down? Let humor serve as a temporary bailout for your dark mood. This piece is intended to tap your funny bone and return the liquidity of laughter to the marketplace. … Today, American Express announced that the credit-card company has been converted to a bank, following the same move by Morgan Stanley and Goldman Sachs last month. This entitled them to receive federal financing. GM is jockeying for federal bailout funds, and others are expected to line up for help. Here is a fresh list of other firms and companies from the real estate world that are getting federal help (It's our fictional take on April Fools' Day in November.): Las Vegas top producer Helen Boomster has converted her business into a bank and received federal bailout funds, which will help her afford for-sale signs and to buy Trulia ad words. She has not sold a home since 2005. Orange County, Calif., mortgage broker Ted Ezzzy ha...