The Back Alley Archives

With a record amount of commercial real-estate debt coming due, some of the country's biggest property developers have become the latest to go hat-in-hand to the government for assistance.

They're warning policymakers that thousands of office complexes, hotels, shopping centers and other commercial buildings are headed into defaults, foreclosures and bankruptcies. The reason: according to research firm Foresight Analytics LCC, $530 billion of commercial mortgages will be coming due for refinancing in the next three years -- with about $160 billion maturing in the next year. Credit, meanwhile, is practically nonexistent and cash flows from commercial property are siphoning off.

http://online.wsj.com/article/SB122991429181825709.html

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I had been wondering when this group would come begging. This is tiring.

agreed aa. The government better not keep handing out money for people that made bad decisions.

It will continue. We've crossed the divide from a majority market economy over to a majority command economy. The government will now decide for us what is best.

Rest assured that no practical help will come to the consumer without civil unrest. The idiots have yet to realize that the individual consumer has the most difficulty de-leveraging and is among the worst of the debtors. As one blogger put it, we're bailing out the OLIGARCHS without securing even the guarantees that Putin in Russia will demand from his oligarchs. God fucking bless 'democracy'. *jackingoffmotion*

When should we redefine our forms of government? When does it get to the point of a new declaration of independence? I have no beef with the USA, just the USA as it currently exists.

I sure hope you are wrong. I agree we have crossed a line but hopefully we can do the hokie pokie and put one foot in and take one foot out and never have to cross the line again.

If this line of bailouts succeed in keeping us out of the GDII, then you can bet your ass they will plan and expect to bail out even more shitty companies next time. The slippery slope only goes one way--when you give the government more power they never give it back until millions are dead.