Simona Beal ?

I have done this site especially for Simona Beal
in order to visit thishousewillexist.org

Sorry for my poor english translation.


Beal Bank will take care of the debts of the Trump casinos in Atlantic City

Donald Trump finally after doing everything possible to try to save Atlantic City, decided to leave town ignoring the various problems afflicting their casinos.

Andy Beal, will take over the post left by the media businessman, Beal is the most important partner of Trump Entertainment, and is a man well known in the gambling world.

Beal mainly know for his series of poker games against The Corporation billionaires, but lately she's been engaging in gambling at the casinos instead of doing these tournaments.

Beal Bank previously shared with Trump casino projects, so it is not surprising that Beal is the one responsible for declaring the bankruptcy of Trump Entertainment Resorts properties in this city.

The original plan Beal was to buy properties directly to Trump, but time passed and no decisions, which led to the current situation, where Beal must assume the debt of $ 486 million generated by Trump Entertainment with Beal Bank and convert it into equity, making the properties to pay his credit, emerging from Chapter 11 debt-free.

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Andy Beal, a banker who was raised without a father State

U.S. begins to open his eyes after the recession. The economy is growing again (by 5.9% in the last quarter of 2009) and the country begins to rediscover as the territory of second chances, where anyone can bounce back from a past I never wanted to live.

This is the case with Andy Beal, a banker from this year again be among the major wealth of the world, with a wealth of 4,500 billion dollars (3.268 million euros), according to Forbes magazine. Born 57 years ago in Lansing (Michigan) and a resident of Dallas (Texas), this entrepreneur, the son of a mechanical engineer, married with six children, always wanted to be an entrepreneur.

Foregoing college, began his career repairing and installing televisions used security alarms, until they entered the housing market. Beal bought her first house 19 years by $ 6,500, with an entry of $ 500 and a credit of $ 6,000 and rented for $ 119 a month.

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Ten years later, his adventure began acquiring property size and with two partners bought his first building under construction, The Brick Towers, a tower of affordable housing in Newark (New Jersey), with 16 point and a superb view over the horizon Manhattan. The project was a failure and was transferred to municipal property, until its demolition in 2006 by order of Mayor Cory Booker.

Beal made the leap to financial sector and opened his own bank, Beal Bank, Texas, in 1988, with the first office located next to a Wendy's hamburger. The businessman, very controversial for his love of poker, expanded its business with the acquisition of another bank in Las Vegas (Nevada), which was renamed Beal Bank Nevada.

The bank, which take deposits and loans that only commercial and residential markets, is the core of Beal Financial Corporation, which specializes in buying opportunities from distressed banks to debt linked to mortgages. The employer failed to purchase goods between 2004 and 2007 for lack of opportunities and the risks began to be seen in the credit market due to subprime mortgages (subprime). Despite this slowdown, Beal ended 2008 with a fortune of 1,500 million.

This banker, far from the prototype of Wall Street and controversial in the industry for its way of operating, had problems in other crises for its risky bets (such as when the 90 tried unsuccessfully to grow abroad, in countries like Mexico and Russia). The slowdown of activity and the impact of financial crisis that followed the bankruptcy of Lehman Brothers in September 2008, caused his wealth was reduced to $ 750 million in early 2009, falling and the list of the most rich world every year made Forbes magazine.

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Today, with the recovering economy, Beal, beginning to enter the meetings of the bosses of banks, again and find opportunities to buy assets has launched again, without receiving any financial assistance from the Government of Barack Obama. The strategy appeals to FDIC, the Federal Deposit Insurance, which has enabled the bank to acquire financial institutions at risk of bankruptcy, as Charter Bank (Santa Fe, New Mexico), New South Federal Savings Bank (Irondale, Alabama ) or Southern Pacific Bank (Torrance, California).

Thus, Beal Bank accumulated assets of 9,200 million at the end of 2009, three times more than before the crisis (2007), with a net profit of 547 million. The owner has re-entered the club the richest in the world at number 176, though far from number one, Mexico's Carlos Slim. Beal is one of the 97 people who have returned to the Forbes list this year after falling in the previous edition about the impact of the crisis. His career is remarkable in an industry, banking, beginning to recover but still has the financial backing of the Government.

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