For those who lost their homes to the banks, and received sermons about how you should only buy what you can afford, check this out:

(Seattle Times) The owner of downtown Seattle's 76-story Columbia Center has won a reprieve from its lender, six months after it defaulted on the huge loan it took out in 2007 to buy the landmark office tower.

Representatives of bondholders to whom Boston-based Beacon Capital Partners owes $380 million agreed earlier this month to extend the interest-only loan by three years to 2015, according to a report filed Wednesday by the loan's servicer.

That means Beacon's monthly payments will drop by 38 percent, said Paul Mancuso, a vice president with Trepp, a New York firm that tracks and analyzes commercial mortgage-backed securities...

38 percent! Imagine that! And what they did is exactly what you did—bought an overvalued piece of property. But capitalism is not for them, capitalism (its laws and punishments) is only for you. Capitalism is for those at the bottom...

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