Reddenbacher 2

COMMERCIAL REAL ESTATE IMPLOSION

....on the other hand, prices are beginning to bottom, you will see hotel properties rebound first, TALF is creating the oppty for banks to offload performing but underpriced loans and therefore make new ones. Three quarters of the stimulus has yet to hit - it will later this year big time.

The bubble bursting is creating many many opportuniities as everything has come back to normal vs the hyper-frenzy of the early part of the decade.

By mid- 2010 unemployment will top out and thing will gradually get back to a healthy rate of growth.

The Next Chapter of Banking Crisis Unfolds as Credit Card Securitization Threatens to Unravel

There are too many innacuracies in this piece to even attempt to debunk. But let me give you the short and sweet. This is nonsense. Credit card issuance is largely in the hands of six large financial institutions who, as the piece states, have strongly supported their securitizations - because 1) these securitizations (unlike subprime poorly underwritten mortgage bonds) ae a good long term vehicle 2) they can survive far worse economic conditions than are currently projected and 3) the US govt has made it clear that these banks will be supported in the short run and not allowed to collapse.