Elizabeth Warren: “It’s about respect. I believe that the American people ought to be part of the conversation about what’s happening in our economy, and what’s happening in Washington D.C. and what’s happening on Wall Street. I truly believe that if the insiders get together and rewrite all the rules, those will be rules that will benefit the insiders and the rest of America will just be left out of it.”
To start the program, Treasury will ask banks, like Citigroup or JPMorgan Chase, to identify pools of residential and commercial real estate loans that they will be willing to sell through an auction. Private investors will bid against each other, setting a market price. No bank will [...]
Capmark Financial Group, one of the largest U.S. commercial real estate lenders, has filed for bankruptcy protection amid mounting bad debt.
Amid the worst housing crisis in decades, commercial real estate is shaping up as the second half of what some are calling a “double bubble.” By msnbc.com’s John W. Schoen.
Rising losses on commercial real estate loans will continue to hurt U.S. banks in coming months and pose the biggest challenge for many financial institutions and their overseers.
The Federal Reserve is stepping up its scrutiny of commercial real estate loans at smaller banks, where delinquency rates have risen sharply.
” The collapse in commercial real estate is preventing Federal Reserve Chairman Ben S. Bernanke from declaring the economy and financial markets are healed.”
” While there is much talk of a recovery on the horizon, commentators are forgetting some crucial aspects of the financial crisis. The crisis is not simply composed of one bubble, the housing real estate bubble, which has already burst. The crisis has many bubbles, all of which dwarf the housing bubble burst of 2008. Indicators show that the next possible burst is the commercial real estate bubble. However, the main event on the horizon is the “bailout bubble” and the general world debt bubble, which will plunge the world into a Great Depression the likes of which have never before been seen.”
“We have been tracking the problems of the commercial real estate sector for over a year, and the topic has now bubbled up to the top of the heap. CRE was the most popular topic recently on Research Recap during, led by Oxford Analytica’s US commercial real estate bust threatens regional banks followed by Moody’s Expects US CMBS Delinquencies to Reach 5-6% and US Commercial RE Roll Rates Suggest Higher Delinquencies from Fitch.”
$78 trillion. In the third quarter of 2007 American households controlled $78 trillion in various assets including real estate, equities, pensions, and other forms of wealth. Adding in the liability side of the equation, Americans in the peak year of 2007 had a net worth of $64.2 trillion. A sizeable portion of that net worth [...]
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