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Financial Crisis: Next Shoe to Drop [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010)

Mike 03

(1000+ posts) Send PM | Profile | Ignore

Tue Nov-11-08 04:50 PM
Original message

Financial Crisis: Next Shoe to Drop

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Some people have suggested credit card defaults would be the next shoe. I agree that credit card defaults are important and will arrive fairly soon, but my second fear all along as been commercial real-estate mortgages. This article is from CNN:

No. 2 mall operator warns of bankruptcy
General Growth Properties blames weak retail sales and a credit market freeze

http://money.cnn.com/2008/11/11/news/companies/general_growth/?postversion=2008111115

This is why I honestly believe this situation is going to get much worse before it gets better. And there are more shoes than even CC and CREM to drop. This will take time.

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