At its simplest level, the economic crisis can be traced to the buying and selling of homes. And the major players in the drama—whether they’re blamed for the mess or charged with cleaning it up—all return at the end of the day to their own houses.
Some ride high despite the carnage. In June, former Fannie Mae head Frank Raines spent $4.9 million on a three-bedroom, seven-bath condo in the West End’s Ritz-Carlton Residences. Less than a mile away is Speaker of the House Nancy Pelosi’s $1.1-million condo along the Georgetown waterfront.
Here’s a look at the houses of the bailout newsmakers.
Secretary of the Treasury
Massachusetts Avenue Heights, DC (photo above)
Assessed value: $3.9 million
Market value: $4.5 million
Chair of the Federal Reserve
Assessed value: $885,000
Market value: $1.13 million