Commenting on: Default Increase Curbs Bankruptcy Lending as Recoveries Dwindle
This suggests to me that we are a long way from a true economic recovery. If private companies seeking to reorganize cannot obtain DIP Financing at all or not on reasonable terms, unemployment will continue to rise as will lease vacancies, and commercial lease rates will decline. This does not bode well for commerical real estate valuations unless Uncle Sam decides to perform another socialist bailout.
August 3, 2009
August 2, 2009
Wall Street Gluttons Return
Commenting on: http://www.bloomberg.com/apps/news?pid=email_en&sid=ahRV7KbfekAw
Of course the remaining Wall Street firms are back to their old spending habits courtesy of the U.S. taxpayer. It sickens me that these supposed "capitalists" received billions of dollars of government money (via government redistribution of income/wealth) virtually guaranteeing them huge profits. For that, they are going to receive huge bonuses and spend like gluttons, figuratively and literally. These Wall Streeters should be ashamed of themselves for putting the country at risk and now they're laughing all the way to the bank because the Bush and Obama Administrations didn't force them to absorb their own losses. Absolutely disgusting.
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