Saturday, November 7, 2009

A Giant Sucking Sound

Half of the $1.4 trillion in commercial real estate mortgages due in the next five years currently owe more than they're worth.

We're not out of the woods yet. We should listen to Joe Stiglitz, nationalize bad banks, and get these toxic assets out of the system already.

For Further Reading:
Commercial Real Estate Is Next
Yet Another Bubble

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