Dave: Doesn’t this, in essence, also take care of the Mark-To-Market/Mark-To-Model balance sheet valuation problem as well, in that it ignores that aspect (underlying valuations) of the problem?
I realize that P&I is a cash flow/Income Statement/Statement of Cash Flows issue, but this appears, to me at least, to also throw a veil over the underlying asset valuation problems, which would undoubtedly be a huge counterpart to the whole CRE portfolio.
