Thawing the Markets, Part 1
I’ve been writing for almost a year that the next shoe to drop on US banks would be commercial construction lending. Today we look at some hard numbers.Construction Lending: The Next Shoe to DropThe Bank Credit Analyst is one of the more reliable sources for information. They estimate that total losses from the current debt crisis could be anywhere from $1.1 trillion to $1.7 trillion. They estimate roughly half to be in the banking sector or around $750 billion and almost $590 billion of that has already been written off. That means that the $700 billion from the TARP ...
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