How Americans Can Plan to Be Screwed Tomorrow

By
Thursday, February 11, 2010 at 5:50 pm

If today’s economy wasn’t already bad enough and the need to bail out entire countries rather than just banks didn’t strike enough fear into your heart, Congressional Oversight Panel chair Elizabeth Warren has some news for you: It’s about to get worse.

The home mortgage crisis might be more or less “over” — unless you’ve already lost your home or, like the vast majority of applicants, been denied entry into Obama’s vaunted mortgage modification program — but Warren’s panel says there’s a new one about to begin. There are $1.4 trillion in commercial real estate loans that need to be refinanced between 2011 and 2014 and, like many homeowners before them, commercial property owners took out mortgages on expensive property, only to watch prices drop.

If, like too many homeowners before them, the commercial real estate owners default on their loans, Warren thinks the whole, nasty financial crisis cycle could well start up again.

When commercial properties fail, it creates a downward spiral of economic contraction: job losses; deteriorating store fronts, office buildings and apartments; and the failure of the banks serving those communities.

Unlike the home mortgage crisis, however, the banks serving those communities aren’t large, out-of-state Wall Street giants: they’re quite often local community banks. Those banks are a cornerstone of Obama’s strategy to ease credit restrictions to allow businesses to hire more people and to help individuals stay in their homes. They are also the cornerstone of Arianna Huffington’s “Move Your Money” campaign to encourage people and state and local governments to transfer their money to smaller, local banks in an effort to benefit local economies.

Warren suggests that, despite the political improbability of another round of bailouts, some banks might need to be bailed out or will simply fail. No wonder Sheila Bair and the FDIC made sure their books were back in the black before the start of 2010.

Follow Megan Carpentier on Twitter


Comments

17 Comments

uberVU - social comments
Trackback posted February 11, 2010 @ 8:18 pm

Social comments and analytics for this post…

This post was mentioned on Twitter by TWI_news: How Americans Can Plan to Be Screwed Tomorrow http://bit.ly/c0ntqt...


WEIGHT LOSS PLAN %CLIP% %KEYWORDS% %CLIP% %BLOG%
Pingback posted February 11, 2010 @ 9:04 pm

[...] How Americans Can Plan to Be Screwed Tomorrow « The Washington … [...]


3 DAY DIET PLAN REALLY WORKS: I HAVE LOST 65 POUNDS IN 12 WEEKS: FAST WEIGHT LOSS DIET: %CLIP% %KEYWORDS% %CLIP% %BLOG%
Pingback posted February 11, 2010 @ 9:17 pm

[...] How Americans Can Plan to Be Screwed Tomorrow « The Washington … [...]


How Americans Can Plan to Be Screwed Tomorrow | The Lie Politic
Pingback posted February 11, 2010 @ 10:34 pm

[...] Visit Source [...]


How Americans Can Plan to Be Screwed Tomorrow | RealEstateWatcher.info
Pingback posted February 13, 2010 @ 2:01 am

[...] View post: How Americans Can Plan to Be Screwed Tomorrow [...]


Geithner: We’ll Fix $700 Billion CRE Crash with $30 Billion Unrelated Community Bank Fund | NEWS Gate
Pingback posted March 30, 2010 @ 8:17 pm

[...] February, (Elizabeth) Warren noted that $1.4 trillion in commercial real estate loans would need to be refinanced between 2011 and [...]


I’d Like To Be Under The Sea, In A Commercial Mortgage Garden In The Shade « Around The Sphere
Pingback posted April 1, 2010 @ 8:22 pm

[...] Carpentier at The Washington Independent: Elizabeth Warren warned in February that commercial real estate was the next recovery-killer, and since nothing improved by March, Tim Geithner yesterday took to CNBC to acknowledge the [...]


Commercial Real Estate Hyperpocalypse: Where is Elizabeth Warren Getting Her Numbers? - Hit & Run : Reason Magazine
Pingback posted April 1, 2010 @ 8:22 pm

[...] — is that the CRE decline will hurt mom and pop banks. That may screw President Obama's plan to encourage local banks to use more lax standards in business lending. But it is not something that should concern you, me, or anybody else except [...]


Bet Ting
Comment posted April 23, 2010 @ 1:22 pm

The fallout from this bubble burst will go on for years to come. The huge number of people who have burned by this episode will probably never get on the property ladder ever again and that will keep asset values depressed for a long while to come. The same can be said for commercial property, plus many businesses are turning to a virtual income rather than renting or buying commercial property to retail. It just doesnt look good for construction!


www.zillow.com
Comment posted May 19, 2010 @ 6:12 am

Some very good points Patrick! I deal with Real Estate agents on a daily basis and know first hand that more and more agents are becoming savvy to the importance of online marketing. They http://www.zillow.com are also realizing that people are less and less willing to fill out registration forms online so they are forced to find supplemental ways to generate leads online.


Flipping houses (also known as www.zillow.com | Zillow.com
Pingback posted May 20, 2010 @ 3:50 pm

[...] there be access to a pool or outdoor area, it is usually taken care of by a property management http://www.zillow.com company or caretaker. Not being responsible for the maintenance of these areas make an owner’s [...]


adidas outlet
Comment posted June 2, 2010 @ 6:06 am

Thanks for this interesting post,i like it.


louis vuitton handbags
Comment posted July 28, 2010 @ 6:07 am

Thanks for this interesting post,i like it.


Property Solicitors
Trackback posted March 31, 2011 @ 7:24 pm

Conveyancing Solicitor…

[...]here are some links to sites that we link to because we think they are worth visiting[...]…


Anonymous
Comment posted May 14, 2011 @ 8:18 am

 Today I found a wonderful website,the site contained:
wedding dresses
cheap wedding dresses
Junior Bridesmaid Dresses
Cheap Homecoming Dresses
Cheap Quinceanera Dresses
Inexpensive bridesmaid dresses
Wholesale wedding dress
Wholesale wedding dress
Discount wedding dresses
Cheap Maternity Wedding Dresses
A-Line Wedding Dresses
Cheap Couture Wedding Dresses
Cheap Beach Wedding Dresses
Cheap Casual Wedding Dresses
Cheap Simple Wedding Dresses
Cheap Modest Wedding Dresses
Cheap Special Occasion Dresses
Cheap Evening Dresses
Cheap Prom Dresses
Cheap Little Black Dresses
Cheap Sequined Formal Dresses
Cheap Plus Size Wedding Dresses
Pink Wedding Dresses
Cheap Wedding Party Dresses
Cheap Bridesmaid Dresses
Cheap Flower Girl Dresses
Cheap Mother of the Bride Dresses
cheap wedding dresses,wholesale wedding dress,Wedding dresses 2011,Plus Size Wedding Dress wholesale,Couture Wedding Dress wholesale,Formal Wedding Dress wholesale,Bridesmaid Dresses wholesale,Discount Bridesmaid Dress wholesale,Junior Bridesmaids Dresses wholesale,Maternity Bridesmaid Dress wholesale,Cocktail Dress wholesale,Prom Dress wholesale,Evening Dress wholesale,Sexy Evening Dress wholesale,Stardoll Dress wholesale,Quinceanera Dress wholesale,Mother of the Bride Dress,Flower Girl Dress,Wedding Accessories wholesale
Today I found a wonderful website,the site contained:
wedding dresses
cheap wedding dresses
Junior Bridesmaid Dresses
Cheap Homecoming Dresses
Cheap Quinceanera Dresses
Inexpensive bridesmaid dresses
Wholesale wedding dress
Wholesale wedding dress
Discount wedding dresses
Cheap Maternity Wedding Dresses
A-Line Wedding Dresses
Cheap Couture Wedding Dresses
Cheap Beach Wedding Dresses
Cheap Casual Wedding Dresses
Cheap Simple Wedding Dresses
Cheap Modest Wedding Dresses
Cheap Special Occasion Dresses
Cheap Evening Dresses
Cheap Prom Dresses
Cheap Little Black Dresses
Cheap Sequined Formal Dresses
Cheap Plus Size Wedding Dresses
Pink Wedding Dresses
Cheap Wedding Party Dresses
Cheap Bridesmaid Dresses
Cheap Flower Girl Dresses
Cheap Mother of the Bride Dresses
cheap wedding dresses,wholesale wedding dress,Wedding dresses 2011,Plus Size Wedding Dress wholesale,Couture Wedding Dress wholesale,Formal Wedding Dress wholesale,Bridesmaid Dresses wholesale,Discount Bridesmaid Dress wholesale,Junior Bridesmaids Dresses wholesale,Maternity Bridesmaid Dress wholesale,Cocktail Dress wholesale,Prom Dress wholesale,Evening Dress wholesale,Sexy Evening Dress wholesale,Stardoll Dress wholesale,Quinceanera Dress wholesale,Mother of the Bride Dress,Flower Girl Dress,Wedding Accessories wholesale


Anonymous
Comment posted May 20, 2011 @ 4:04 pm

ok.please visite this website.?????? LouisVuitton
???
?????? 2010-2011??
?????? ???
?????? ??
?????? ???
?????? ???
?????? ???
?????? ??? ????
?????? ????????
?????? ??????????
?????? ?????
?????? ?????????
?????? ????????????
?????? ???????????
?????? ????

ugg??????ugg
??????
??????
??????
??????
??????
??????
??????
cheap software
Discount office software
cheap wedding dress
?????? ??
?????? ??????
?????? ??
?????? ???
?????? ???
?????? ????

??
?????? 2011????
?????? ???
?????? ??
?????? ???
?????? ???
?????? ???
?????? ???????????
?????? ?????
?????? ????
?????? ??

???
???
???
???
???
???
???
???
Discount software
Discount software
wholesale wedding dress

???? CHANEL
???? ???
???? ???
???? ????
???? ???
???? ???&??
???? ?????

???? ??
???? ??

??? GUCCI
??? ???
??? ??
??? ??

???
???(OMEGA)
?????????
????????
?????????
???
??????????

????? CARTIER
???
????
?????????
??????
???C
??????

???CORUM
???? CHANEL
????? CHOPARD
????ZENITH?
?????PANERAI?
???????? FRANCK MULLER
???????BREITLING
???? BVLGARI
???
?????
????
?????
?????
????? ??????
????? ????
????? ????
????? ???
?????GMT
????????

?????(ROLEX)
????
????
???
?????

???

?
CHANEL????
JUICY
???????(Ed Hardy)
????????? D&G
??????????CL
??? (Gucci)
?????
?????
???
??
?????
???
??

???(COACH)
???????Jimmy Choo?
????? (Dior)

???? ????Bottega Veneta
???
??
??

??? COACH
??????
?????

??? PRADA
??? ???

???? Hermes
???? ???
???? ??
???? ??
Wedding Dresswedding dresses with color(2010)
wedding dresses(2010)
wedding dresses(2011)

Plus Size Wedding DressPlus Size Wedding Dresses(2010)

Couture Wedding DressCouture Wedding Dresses(2010)

Formal Wedding DressInformal Wedding Dresses(2010)

Wedding Bridesmaid DressesWedding Bridesmaid Dresses 2010

Discount Bridesmaid Dress
Junior Bridesmaids DressesJunior bridesmaids dresses(2010)

Maternity Bridesmaid DressMaternity Bridesmaid dresses(2010)

Cocktail DressCocktail Dresses(2010)

Prom &Evening DressProm dresses(2010)

Sexy Evening Dress
Stardoll Dress
Quinceanera DressQuinceanera Dresses(2010)

Mother of the Bride DressMother of the Bride Dresses(2010)

Flower Girl DressFlower girl dresses(2010)

Wedding AccessoriesJacket
Petticoat

Real ProductsReal Wedding dress


Anonymous
Comment posted July 5, 2011 @ 12:49 pm

Kimora Lee Simmons had too significantly too soon in her life–and continues to have far more   Christian Louboutin red patent calf So Private 120mm slingbacks  . Born on Might 4, 1975 in St. Louis, Missouri, Kimora was a Cinderella in a rags-to-riches story. She was bullied at school for standing five feet, 10 inches at the age of 10 and for becoming a mixed ethic background. Her mother is Japanese and her father is African American. To ease her troubles, Kimora’s mother enrolled her in a modeling class when she was 11   Christian Louboutin Studded Star Prive Slingback Heel  . Two years later, her life took a sudden turn.At thirteen, Kimora was the star model of Karl Lagerfeld for Chanel right after Marie-Christine Kollock spotted her in a model search in St. Louis. At fourteen, she was six feet tall and considerably sought after in runway shows. At sixteen, her modeling career was unstoppable. She signs up for a modeling career for the world’s leading fashion designers including Richard Tyler, Yves St   Christian Louboutin copper leather Short Tina 120mm fringe pumps  . Laurent, Giorgio Armani, Givenchy, Gianfranco Ferre and Fendi.After conquering the runway, Kimora indulged in the luxury of fashion as creative director of Baby Phat–an offshoot project of Phat Farm clothing brand, which was owned by Kimora’s former husband Russell Simmons. Media and fashion magnate Russell Simmons is the founder of Def Jam Records and creator of Phat Farm, a hip-hop clothing brand for men   Chrsitian Louboutin Sexy Sling Glittered Stiletto  . He married Kimora in 1998 following reforming his image and way of life as womanizer and playboy. They had two daughters, Ming Lee and Aoki Lee Simmons.With Kimora by her side, Russell was in a position to expand Phat Farm’s clothing line and Baby Phat was born. Phat’s women’s luxury clothing line struts urban glamour in hip-hop style. Living a lavish and extravagant life, Kimora has acquired a fine taste in fashion, which helped her conceptualize the label Christian Louboutin gold leather Libelle sandals  . From cute and sexy baby tees, she came up with denim pieces, leather, lingerie, accessories, shoes, and the renowned limited edition of the Motorola mobile phones and some signature fragrances that will complete the style of an urban “it girl.” As expected, Baby Phat has acquired its really own celebrity market, which included Paula Abdul, Britney Spears and Alicia Keys.Deemed as one of the world’s trendsetters and influential fashion guru, Kimora expanded her globe as she explored television and movies   Christian louboutin shoes. She bagged a Tony Award for producing Russell Simmons Presents Def Poetry Jam in 2003. She became host of MTV’s Fashionably Loud and co-hosted Sony’s Life & Style. Tyra Banks got her to judge in America’s Next Top Model and was component of recent films for example The Large Tease, Beauty Shop and Rage Control   Chrsitian Louboutin Sexy Sling Glittered Stiletto  . She has also published a book titled Fabulosity in 2006. The book is a way of life manual on spirituality, finances, fashion and beauty. At present, Kimora is actually a world-renowned fashion model, designer, entrepreneur and actress. Despite her divorce with Russell in 2008, she continued to drive the Baby Phat’s success with a new inspiration coming from actor model Djimon Hounsou with whom she had a son named Kenzo Lee.


RSS feed for comments on this post.

Sorry, the comment form is closed at this time.