For those who recall the last real estate financial crisis, you will remember that reforms were made, regulations promulgated and proclamations voiced that such a disaster would never happen again. Well, so much for such well-intentioned predictions. While the Financial Institutions Reform Recovery and Enforcement Act (FIRREA) did allow for the orderly disposition of failing real estate assets through the Resolution Trust Corporation, it wasn’t designed to deal with many of the factors that have led to the current financial turmoil...