US office buildings face $117BN debt time bomb: Mortgages due this year threaten to sink US economy as thousands of workplaces remain empty

DAILY MAIL ^ | 1 January 2024 | NIC WHITE

[Kathy in OC]

The post I was replying to referred to government bailing out insured accounts. Insured accounts are covered by the FDIC’s Deposit Insurance Fund, which is funded banks, not taxpayers.

[Elsie]

...which is funded banks, not taxpayers.

The banks get their money from whom?

[Kathy in OC]

Banks get their money from profits in their business. Or are you trying to say that the banks get their money from taxpayers, because their customers pay taxes? By that logic, you could say that when retailers buy inventory it is paid for by taxpayers. The common usage of the term “paid for by taxpayers” means paid for by tax dollars collected by the government, which is not the case for the FDIC insurance which covers consumer banking accounts up to $250,000.

[Elsie]

OK; I see what you mean now.

Thanks.

[JimRed]

My son the union carpenter worked constantly in Manhattan for the first three years of the Trump administration. Mostly office and store renovation or upgrades. He’d finish on one job and move on to the next; there was work aplenty. That died out with the work-from-home results of the scam-demic.

Now there’s very little work of that kind, for the reasons stated in this article.

[Kathy in OC]

Thanks for being so nice!

[Elsie]

Aw...  shucks...