That’s what Elizabeth Warren, chair of the TARP Congressional Oversight Panel said last Monday. ‘œThese loans are concentrated in the mid-sized banks,’ Warren told CNBC. ‘œWe now have 2,988 banks’”mostly midsized, that have dangerous concentrations in commercial real estate lending. As a result, the economy will face another very serious problem — to be resolved over the next three years… [and] things are unlikely to return to normalcy in 2010.”
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elizabeth warren
Bailout Watchdog Warns about Commercial RE
Until Treasury and bank supervisors take coordinated action and are forthright and transparent, the state of the commercial markets — and the potential impact that a breakdown in those markets could have on local communities, small businesses, and individuals — the financial crisis will not end — that’s Elizabeth Warren’s message. Read more…
