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We've been waiting and now it looks like the other shoe is about to drop.
Welcome to Obama's new Muddle Through Economy.
Quote:
NEW YORK (Fortune) -- Regional banks can no longer ignore the elephant in the room -- their exposure to the commercial real estate bust.
Though housing markets remain weak, analysts expect credit problems over the next year to center on commercial real estate -- mortgages on office and apartment buildings and shopping malls, as well as construction, development and industrial loans.
Quote:
U.S. banks hold some $1.8 trillion worth of commercial loans, according to Federal Reserve data. Big regional banks, including PNC (PNC, Fortune 500) of Pittsburgh, KeyCorp (KEY, Fortune 500) of Cleveland and BB&T (BBT, Fortune 500) of Richmond, Va., have more than half their loan books in commercial loans. With financing markets locked up and the economy still mired in recession -- unemployment is at a 26-year high while capacity utilization, a key measure of industrial production, recently hit a record low -- observers fear a wave of loans will go bad in coming quarters.
Sorry but it was the " muddle though economy" of the past eight years that has got us in this enormous debt. No good blaming Obama yet. Let's see in three years if he has done a good job or as bad a job as the previous administration.
Sorry but it was the " muddle though economy" of the past eight years that has got us in this enormous debt. No good blaming Obama yet. Let's see in three years if he has done a good job or as bad a job as the previous administration.
You win! Your the first to bring up Bush in defense of Barry's economy. You may not have heard but Barry has officially rescued us from Bush's economy. This is all Barry's now.
Sorry but it was the " muddle though economy" of the past eight years that has got us in this enormous debt. No good blaming Obama yet. Let's see in three years if he has done a good job or as bad a job as the previous administration.
You win! Your the first to bring up Bush in defense of Barry's economy. You may not have heard but Barry has officially rescued us from Bush's economy. This is all Barry's now.
why do you say that? it's still doing damage according to your own OP.
You win! Your the first to bring up Bush in defense of Barry's economy. You may not have heard but Barry has officially rescued us from Bush's economy. This is all Barry's now.
Yes but Barry reminded us last week that he inherited this mess. He worked so hard for the job but then complains about it.
Yes but Barry reminded us last week that he inherited this mess. He worked so hard for the job but then complains about it.
He's not complaining, he's reminding his ADHD-impaired populace that Rome wasnt built in a day.
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