Elizabeth Warren: Half of all commercial real estate will be under water by end of year

[Subdivisions]

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."

...snip...

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

[Greyhound]

1. But no one could've predicted...

So, how many times over how many years do these people need to be proven dead wrong before we will be allowed to consider actual solutions?

[laughingliberal]

2. Come now! You mean to say you're not finding the new, improved gilded age to your liking? nt

[Greyhound]

7. Once I get some gilding, I'll let you know.

When it became apparent that Obama was going to be the next nominee, and therefore the next Prez, Ms. Greyhound & I thought that at least we would get some of the gilding back, Imagine our surprise at a Democratic administration that makes Nixon's look like scrooge after his transformation.

[laughingliberal]

8. I'm right there with you. nt

[earth mom]

18. The new improved gilded age complete with Robber Barons running amok stealing

everything that isn't locked down.

People need to wake up, stop worshiping politicians, and see what's really happening to this country!

[tuvor]

3. Well, there's an ambiguous subject line. n/t

[Art_from_Ark]

4. No kidding

When I saw that headline, I had visions of polar ice cap melting / global warming doing some mega-damage this year.

[Toucano]

6. LOL!

It should have been "...half of commercial MORTGAGES..." rather than "real estate".

[Subdivisions]

17. You're right. I actually posted this and then went to bed. As I was

lying there waiting for sleep to come, I wondered if I'd left out the word "mortgages" in my post title. Now I know why, lol. =)

[Toucano]

5. I think she's been saying this for months. No one appears to be listening.

She keeps getting booked on programs nobody watches.

[laughingliberal]

9. They put her out every now and then as a sop to the left when we start getting impatient with the

Goldman Sachs team at the White House. I love seeing her, though.

[DemReadingDU]

11. Warren was on CNBC on 2/11/10 discussing CRE

2/11/10
In an interview on CNBC's Squawkbox this morning, COP chair Elizabeth Warren said simply, "Well it's bad." Then she explained, "We're looking at a situation where about half of all commercial real estate loans are going to be underwater by the end of this year, and that is going to have a direct impact on about 3,000 community banks, or about 40 percent of our entire banking system." Not good.

video
http://www.cnbc.com/id/35352337

[FarCenter]

14. The 3000 community banks are actually a very small part of the banking system

They account for a small part of banking deposits.

[Subdivisions]

15. Charlie Rose too...

http://www.charlierose.com/view/interview/10292

This is a really good interview with Charlie Rose.

[DemReadingDU]

16. and another with Charlie Rose, 3/4/10

http://www.charlierose.com/view/interview/10895

I really like Elizabeth Warren. She gets out information about the financial mess that J6P can understand, but most people don't pay attention.

[chemp]

10. Due to the non-stop rain I've been experiencimg...

For I second I thought you meant literally!

"We really need to address this climate Change problem! I don't want my business to be underwater!"

[sendero]

12. But we're in "recovery"...

... didn't she get the memo? Doesn't she watch the news? "Recessions" last 12-18 months and then they are over. Everybody knows that!

[KG]

13. just another gloom and doomer.

doesn't she understand obama has saved the world?