Bipartisan committee begs for CRE bailout

[Arraya]

http://kanjorski.house.gov/index.php?option=com_content&task=view&id=1712&Itemid=1
WASHINGTON – Today, Congressman Paul E. Kanjorski (D-PA), Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, and Congressman Ken Calvert (R-CA), along with 77 of their House colleagues, sent a bipartisan letter to Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke about the growing concerns that deteriorating conditions in the commercial real estate (CRE) market may threaten an economic recovery.

“The growing bubble in the commercial real estate industry has the potential to infect our economy and slow a recovery,” said Chairman Kanjorski. “In order to safeguard the businesses operating on Main Street and protect the millions of jobs depending on commercial real estate, the Treasury and the Federal Reserve now must take needed and urgent action to stave off a potentially devastating wave of commercial real estate foreclosures and bank losses.”

“I am deeply concerned about the health of our commercial real estate market and the stability of thousands of small businesses across the country,” said Congressman Calvert. “We must take the appropriate steps to ensure that our commercial real estate market does not experience a liquidity crisis that would further exacerbate our struggling economic situation.”

“A liquidity crisis in the commercial real estate market is hurting small business owners across the entire nation,” said National Association of REALTORS President Vicki Cox Golder, owner of the commercial real estate company Cox & Associates in Tucson, Arizona. “I join with all commercial property owners who applaud the efforts of Reps. Calvert and Kanjorski to resolve this problem and put small business owners back in business.”

[UCGal]

Wait – they say there’s a bubble (I agree) and want to INCREASE liquidity so there’s more CRE investment?

Even though this would help my husband’s employment opportunities (he’s an architect) it seems stupid…

The bubble is because too much was built at too high a cost… now there is a glut of CRE and the prices need to come down.

[UCGal]

Wait – they say there’s a bubble (I agree) and want to INCREASE liquidity so there’s more CRE investment?

Even though this would help my husband’s employment opportunities (he’s an architect) it seems stupid…

The bubble is because too much was built at too high a cost… now there is a glut of CRE and the prices need to come down.

[UCGal]

Wait – they say there’s a bubble (I agree) and want to INCREASE liquidity so there’s more CRE investment?

Even though this would help my husband’s employment opportunities (he’s an architect) it seems stupid…

The bubble is because too much was built at too high a cost… now there is a glut of CRE and the prices need to come down.

[UCGal]

Wait – they say there’s a bubble (I agree) and want to INCREASE liquidity so there’s more CRE investment?

Even though this would help my husband’s employment opportunities (he’s an architect) it seems stupid…

The bubble is because too much was built at too high a cost… now there is a glut of CRE and the prices need to come down.

[UCGal]

Wait – they say there’s a bubble (I agree) and want to INCREASE liquidity so there’s more CRE investment?

Even though this would help my husband’s employment opportunities (he’s an architect) it seems stupid…

The bubble is because too much was built at too high a cost… now there is a glut of CRE and the prices need to come down.

[sd_matt]

Seeing as how there is a second wave of residential defaults coming this year will there be a second bailout of the banks for that too? Or has the first bailout covered this already? If not do you think they will try to be subtle about it or will they simply try it in plain sight?

Btw Doctorhousingbubble has, in his latest article, a link to the SIGTARP report.

[sd_matt]

Seeing as how there is a second wave of residential defaults coming this year will there be a second bailout of the banks for that too? Or has the first bailout covered this already? If not do you think they will try to be subtle about it or will they simply try it in plain sight?

Btw Doctorhousingbubble has, in his latest article, a link to the SIGTARP report.

[sd_matt]

Seeing as how there is a second wave of residential defaults coming this year will there be a second bailout of the banks for that too? Or has the first bailout covered this already? If not do you think they will try to be subtle about it or will they simply try it in plain sight?

Btw Doctorhousingbubble has, in his latest article, a link to the SIGTARP report.

[sd_matt]

Seeing as how there is a second wave of residential defaults coming this year will there be a second bailout of the banks for that too? Or has the first bailout covered this already? If not do you think they will try to be subtle about it or will they simply try it in plain sight?

Btw Doctorhousingbubble has, in his latest article, a link to the SIGTARP report.

[sd_matt]

Seeing as how there is a second wave of residential defaults coming this year will there be a second bailout of the banks for that too? Or has the first bailout covered this already? If not do you think they will try to be subtle about it or will they simply try it in plain sight?

Btw Doctorhousingbubble has, in his latest article, a link to the SIGTARP report.

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