Posted on 12/22/2008 1:08:22 AM PST by do the dhue
With a record amount of commercial real-estate debt coming due, some of the country's biggest property developers have become the latest to go hat-in-hand to the government for assistance.
They're warning policymakers that thousands of office complexes, hotels, shopping centers and other commercial buildings are headed into defaults, foreclosures and bankruptcies. The reason: according to research firm Foresight Analytics LCC, $530 billion of commercial mortgages will be coming due for refinancing in the next three years -- with about $160 billion maturing in the next year. Credit, meanwhile, is practically nonexistent and cash flows from commercial property are siphoning off.
(Excerpt) Read more at online.wsj.com ...
(whoa!)
Viewed from outside the USA, if I didn’t know otherwise I’d have to guess that GWB and the Conservatives must have had a “Scorched Earth Policy” in place and waiting to greet His Excellency.
If/when he takes the reins on January 20 2009 your nation is going to be seriously in the poo, with very few reserves to pull it out.
This leads me to worry what sort of extreme measures he will excuse, based on being left with “scorched earth”. Crisis can excuse all sorts of excess, as we know from History.
God Bless America
*DieHard*
Pandora’s Box Status: OPEN
And some crises are created and the same people who create them claim they are the ones who can fix it. See Barney Frank and friends.
Well heck, we may as well all get in line, huh? Seems to be the “in” thing to do. LOL!
What on earth were those idiots in DC thinking when they went for this bailout? Could they not see this coming? WE could!
*siiiiiiiiigh*
We are all going to need a bail out soon!!
Shouldn’t you be asleep?
> And some crises are created and the same people who create them claim they are the ones who can fix it. See Barney Frank and friends.
Hmmmmmmm... the timing of the financial crisis couldn’t have been better — from some people’s perspectives anyway. “Follow the money” springs to mind. So does “Cui Bono?”
They need to come to the Do the Dhue School of hard knocks. I got some hard knocks for ‘em!
These bailouts show what dumb& confused hypocrites they are. So much for the “free market” bullsh!t they’ve been slinging the last 8 years
George Bush and his economic team including moron/stooge Chris Cox did nothing while Wall St went wild with derivatives. Reason being they were loathe to interfere with free markets
Where do I apply for this bling?
Do I need a God Father in the Treasury Department?
Georgie Porgie Pudding and Pie
Kissed the Markets and made them die.
When investors came out to play
Georgie made them run away!
I posted this on another thread:
The regulators were not the problem. Barney Frank and friends were making the banks give more and more marginal loans. Regulators were trying to end this because we were giving more marginal loans then the system could handle, if the people who received those loans failed to pay up. We knew this years ago, but the regulators were called racist for trying to keep the inner city people down. The regulators were told that there was no problem with Fannie Mae and Freddie Mack by the likes of Frank and friends. It was maybe six months ago or so that Frank told the regulators that there was no problem.
When the press asked Frank and others what caused this, the rats said the regulators were the problem. The press believed it and told the American people a huge lie. The problem was the government (Frank and friends) forcing banks to make more marginal loans. Now, I will say that some of the lenders figured the government will back the loans and they became predatory. So, there were others who were greedy, but it wasn't the regulators. Now, can you tell me why exactly the regulators should be at fault here?
Sure, I think Bush could have fought harder and didn't, but this didn't begin with Bush. It began with Frank and friends.
No, you need to be a CEO of some sort.
> Naaa! Them dumb keysters in DC went to Harvard, Princeton, or Yale. They have no clue.
They haven’t paid their Dhues!
Don’t say much fer collidge edgeekayshun, does it?
They need a few hard knocks - - right on their noggins. But I doubt it would do any good on their thick skulls.
I can’t help but worry about how much the country will suffer due to this madness. It’s hard to see an end to it at this point.
lol
Sure what you say about Barney Frank and other Democrats is true but the derivatives mess is somewhat independent of the sub-prime mortgage mess. George Bush and company should have clamped down on Wall St and its derivatives factory.
What we are witnessing is the end of a manic era. . But the bartender is serving one last round of drinks and boy are they strong. And you and me are paying the tab
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