Zuckerman says bailout was bad move

October 06, 2008 05:45PM

In a Q&A with Mort Zuckerman, chairman of Boston Properties, Zuckerman said the $700 billion bailout was the wrong move to fix the financial crisis, and that people should buy equity in the failing financial companies instead. Zuckerman also said he was able to buy the General Motors building for $2.8 billion, a price about 20 percent lower than it would have been a year prior. He warned that credit constraints will put the country into a six- to 12-month recession, and economic activity will become even slower.

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