View Full Version : The next wave: commercial real-estate loan defaults...
03-23-2009, 11:07 PM
03-24-2009, 12:10 AM
no one is talking about the coming disaster in insurance stocks... Insurance companies are the largest owners of corporate debt and major owners of commercial mortgages......
when this wave of defaults begins, which large bank will be safest? The answer, surprisingly, is Citigroup. According to Bloomberg, Citi only has $6.6 billion, or 0.9% of its loans, in real estate. That compares to 12% at Wells Fargo (the single largest holder), 7.5% at JPMorgan, and 6.9% at Bank of America.
03-24-2009, 07:50 AM
Easy goes it. The American public can only handle one catastrophe at a time. Don't overload them.
Now, if Obama has already solved the toxic asset stuff in the American public's eyes, then we can move to the next issue.
Throw a trillion dollars at any problem and, voila, problem gone. Or, at least problem will be delayed until after the next election.
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