This IS Serious

If recession is when your neighbor loses his home, and depression is when you lose your home, what does it mean when Ed McMahon loses his six bedroom Beverly Hills mansion?

Ed McMahon, the longtime sidekick to television star Johnny Carson, faces the possible loss of his Beverly Hills home to a foreclosure action initiated by a unit of Countrywide Financial Corp.

Howard Bragman, a spokesman for Mr. McMahon, said late Tuesday that his client is having "very fruitful discussions" with the lender and hopes to find a resolution. It isn't clear whether that would allow the 85-year-old Mr. McMahon and his wife, Pamela, to remain in the six-bedroom home.

I'll not make light of the housing crisis again.

Economics and Markets Posted by jk at June 4, 2008 1:32 PM