Half of Commercial Mortgages to Be Underwater: Warren

[Crewleader]

Elizabeth Warren

Bad news for commercial real estate and the economy:

By the end of 2010, about half of all commercial real estate mortgages will be underwater, said Elizabeth Warren, chairperson of the TARP Congressional Oversight Panel, in a wide-ranging interview on Monday.

“They are concentrated in the mid-sized banks,” Warren told CNBC. “We now have 2,988 banks—mostly midsized, that have these dangerous concentrations in commercial real estate lending."

As a result, the economy will face another “very serious problem” that will have to be resolved over the next three years, she said, adding that things are unlikely to return to normalcy in 2010.



http://www.cnbc.com/id/36085517

I agree with this:

Speaking on troubled mortgage lenders, Warren said it’s time for the government to "pull the plug" on mortgage lenders Fannie Mae and Freddie Mac.

http://bubblemeter.blogspot.com/2010/03/elizabeth-warren-half-of-commercial-re.html?source=patrick.net

[90-percent]

1. a little help

Do we have anyone on DU in charge of monitoring all the big bubbles set to explode in 2010? Isn't there still a lot of major segments of the banking industry that have not yet had their day of reconciliation?

mortgage bubble?
oil bubble?
internet bubble?
Greece failing bubble?

I mean, there's still plenty of un triggered debt bombs that most of us will first learn about only after it bursts and wrecks yet another portion of our economy?

I would think the rest of the planet would be doing it's best to extricate itself from any involvement with any AMERICAN INSTITUTIONS, because so many of them have been proven to be totally fraudulent?

Would that in itself be yet another bubble? I am so not a money person. Can't keep track of all this stuff that seems to have a direct impact on the quality of life for all three hundred million of us Americans. It would jsut be nice to have some fore warning this time before the next bubble victimizes us unwashed masses.

Please school me

-90% jimmy