Another bailout coming?
By the end of 2010, about half of all commercial real estate mortgages will be underwater, said Elizabeth Warren, chairperson of the TARP Congressional Oversight Panel, in a wide-ranging interview on Monday.
Speaking on troubled mortgage lenders, Warren said it’s time for the government to “pull the plug” on mortgage lenders Fannie Mae // [FNM 1.05
-0.01 (-0.94%)
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“There is no implicit guarantee anymore,” she added. “I don’t care how big you are, if you make serious enough mistakes, then your business can be entirely wiped out.”
via Commercial Real Estate: Half of Commercial Mortgages to Be Underwater: Warren.
March 30, 2010 at 8:35 pm
It is best to consult a commercial mortgage broker before making a decision on your commercial mortgage finance. Commercial Property
March 30, 2010 at 9:11 pm
McNorman, both you and I know full well that the MSM is reporting good times ahead yet the fact is that the debt saturation point is being reached very quickly.
Funny thing today – I got up early and looked at Kitco, which normally is rather straightforward about the prospects of this very faulty economic ground upon which we are currently standing. They credited the rise in the dollar to the relative fall of Greece, Portugal, and Scotland…
It’s come to that you know – measuring ones success by the relative failure of others.
You are right to pursue this topic. The MSM is lying about the state of the economy. I heard that securities sales personnel are fanning out pitching this false bottom to investors. I am warning them not to fall for it.
March 31, 2010 at 6:29 am
What else is left? They have to use others failures. It is the only way we begin look solvent. You know it really surprised me that CNBC was the source for the story.
April 1, 2010 at 7:08 pm
You can hear them singing (or is that slinging) it now:
“We’re not worse than any body else!
April 1, 2010 at 7:07 pm
NNIC, I just detest fake bottoms!
March 31, 2010 at 4:57 am
it’s like it was all during the primaries- not one politician wanted to admit the country was in a depression- but all us regular people knew. We buy gasoline and milk and pay the utility bills. No accountants and personal shoppers to insulate us from the truth.
March 31, 2010 at 6:44 am
They are delusional PMM. Living in DC is equivalent to living in DisneyLand.
March 31, 2010 at 6:17 am
PMM- Exactly! This term that Obama is using…”The Great Recession” is just skirting around what it really is, not to mention, he just said the other day that “The Great Recession is over”. Ya got that right…it’s looking more like it’s going to shape up to be another “Great Depression”.
I’m not as worried about myself, but I’m really worried about my kids who haven’t had the chance to build up any savings.
March 31, 2010 at 6:45 am
Savings are something that we did in the past. It is now living one paycheck to the next. It’s been coming for a very long time Nunly. The younger ones always laughed about how we were a bit too resistance to spending.
March 31, 2010 at 9:37 am
“…he just said the other day that “The Great Recession is over”. Ya got that right…it’s looking more like it’s going to shape up to be another “Great Depression”.”
mission accomplished
April 1, 2010 at 7:09 pm
Obama and Biden say”
“Have the Greatest Depression Evah!!!”
April 1, 2010 at 7:10 pm
It’ll be “historic!”
April 17, 2010 at 1:05 am
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