Haven’t seen the return but regardless of the legitimacy of the loss, you don’t get taxed on cash pulled out of refinances. So, in theory, he could have bought a bunch of properties at market lows then ridden their unrealized gains all the way up without paying taxes on that money. The result would be positive cash…

What if Ryan and Blake name their baby “Brangelina?” That would make things awkward somewhere.

The real story here is that there is a real life lawyer named F. Edie Mermelstein and no one seems to think twice about it.