Seems former Treasury Secretary Hank Paulson has run headfirst into the Housing Depression.
As former President George W. Bush's top economic adviser, Paulson played a lead role battling the U.S. housing downturn and deep financial crisis it sparked.
But last week it got personal.
Paulson sold his three-bedroom home in a tony Washington neighborhood last week for close to a third less than his initial asking price and more than $1 million below what he paid for it more than four years ago.
The villa-style home near the official vice president's mansion and the National Cathedral sold for $3.25 million on Dec. 21. Paulson put it on the market for $4.6 million in April, later lowering the asking price to $4.15 million, according to real estate industry records. He paid $4.3 million in August 2006, according to government records.
Bwaaaaaaaaaaaahahahahaha. Sucks to be you, Hank.
Oh wait. It sucks to be pretty much the rest of us, too. Schadenfreude, it does not pay the bills. but it's good to see a least some karma come around.