The world of banking has been in a difficult place, through their own making, for quite some time now. The president has thrown a lot of taxpayer money at the banks to solve the problem. All that stimulus does not seem to have kick started the economy. Of course, all of this bad news developed because of a mad rush to make as many home loans as possible, and making them easier and easier to get - before the BUST that is. That was the residential market. The commercial market is always a few months behind.
I was reading in a real estate magazine the other day that banks are now holding more than $34 billion in non performing commercial and industrial property loans. I have not seen anything in the press about the massive mess potential of this latest real estate debacle. Maybe it is to come, and maybe I am seeing problems that just aren't there. After all, I am just an environmental consultant.
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