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Commercial Real Estate Industry Asks Treasury for Govt. Bailout

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posted on Dec, 26 2008 @ 11:03 AM
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Commercial Real Estate Industry Asks Treasury for Govt. Bailout


(CNSNews.com) - The commercial real estate industry could face massive bankruptcies in 2009 if it does not receive “urgent” loans from the federal government, according to a November letter sent to Treasury Secretary Henry Paulson from the top commercial real estate trade organizations.

In the letter to Paulson, the top real estate organizations predicted that $400 billion in commercial mortgages will mature and require refinancing in 2009. A tight credit market, in which banks are wary to lend money, could prevent many owners from receiving refinancing, the letter said.

CNS News

So....

It just keeps going and going and going... We need to stop calling it just the "Bail Outs" and start calling it the "Energizer Bunny Bailouts"

When will it stop?

When will the Government stop giving our money to bailout businesses that have made bad decisions?

Being a Capitalist, and proud of it, I accept that any business decision I make is fraught with risk. If it wasn't risky, the payoff would be lower. That is just business.

Apparently the rules have changed. Now you can make stupid decisions and "Big Brother" will step in and give you the money to continue operating; and making stupid decision.

Semper



posted on Dec, 26 2008 @ 11:12 AM
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un - freaking - believable!



posted on Dec, 26 2008 @ 11:15 AM
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Heh, what's going to be the kicker is when the defense industry claims bankruptcy, adding insult to injury.


People have been screaming at these idiots now for months that the bank bailouts would set a very dangerous precedent, and now look at how many industries are starting to parrot the same line. Who's supposed to pay for all this? Finance your war, finance your bailouts, finance, finance finance. While middle class America goes down the drain, unemployment reaches dangerous levels, and many people can't even get a loan. Squeeze some more why don't ya. Let's just see how far you can squeeze until there ain't no more patience.

Yeah, you BET the US brought home 20,000 troops for Homeland Security.



posted on Dec, 26 2008 @ 06:48 PM
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Originally posted by TrueAmerican
Finance your war, finance your bailouts, finance, finance finance. While middle class America goes down the drain, unemployment reaches dangerous levels, and many people can't even get a loan. Squeeze some more why don't ya.


The bailout of the automakers was supposed to benefit the middle class. Not just the autoworkers who would be unemployed by the thousands, but also those in related industries from auto parts manufacturers to steelmakers, to tire manufacturers, glassmakers, plastics industries, etc.--on and on into millions of jobs.

The bailout of the banks and one insurance company was to prevent a collapse of financial institutions that could lead to a depression as bad as the one in the 1930's. Herbert Hoover, the president at the time of the stock market crash, is remembered as the guy who advocated saving and not spending. The tent cities that sprung up from the many people who lost their homes were called "Hoovervilles."

Trouble is, while Congress has demanded a huge amount of oversight from the automakers (their CEO's have agreed to work for $1 a year), they haven't exercised any over the financial institutions. CEO's are still getting millions and AIG is even paying its shareholders.

FDR's plan of putting huge amounts of money into circulation to stimulate the economy eventually worked, though it took about ten years. Many economists believe this solution will work again, but the fact is nobody can be certain of that.

What we have here is a system in which profits are private but risks are socialized. It's a win-win solution for the banks, but only a "maybe" for the rest of the country.



posted on Dec, 26 2008 @ 06:52 PM
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reply to post by semperfortis
 


Real estate is easier, it can be auctioned off.


The only way these @#%! will get a bailout is if the banks demand they get assistance since they will be unable to pay back the remanding balance.

GM had to fight for 14 billion, I pray to god Congress sends these idiots crying to their mothers for asking $400 billion of tax funds.



posted on Dec, 26 2008 @ 07:34 PM
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Given it is the holiday season, we can look at the present situation in terms of christmas carols. Here's one called the Twelve Days of Bailouts.



If it wasn't so depressing, I would laugh. Ah what the heck,


Edit to add:

This picture really does sum up the situation pretty well.





[edit on 26-12-2008 by Cool Hand Luke]

[edit on 26-12-2008 by Cool Hand Luke]



posted on Dec, 26 2008 @ 07:44 PM
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reply to post by semperfortis
 


I completely agree with you. It's unbelievable the thought process of these politicians. I have long been saying that their needs to be a seperation of economy and state. Look at the good that came from seperating church and state. I say a restraining order is long overdue where government must stay 500 feet away from the economy.



posted on Dec, 26 2008 @ 07:58 PM
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Did they make the required donations to the Democrats and members of Congress?

Did they help to run their industry in ground by lying, manipulating, and stealing from ordinary citizens?

If they met the criteria above then they are qualified to receive help.


Americans with bad credit can't get loans, but businesses with bad credit can get FREE CASH. Just doesn't make sense.



posted on Dec, 26 2008 @ 07:59 PM
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Important milestone it will be on the road we are travelling now.

Good Thread Sempfortis S+F...

Helicopter Money printing about to start in the UK and USA....

Soo logically where maybe this one, lead to the RUN on the £ or Dollar First?

One is going soon, then the other will follow.... then ..well that's obvious.

I dont like saying this but unfortunately it's true.

Elf.



posted on Dec, 26 2008 @ 11:36 PM
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I just don't understand it anymore.

If i start a business and i make awful decisions then the banks and government come after me with gutting knives, but if a big business does this then they're told it's all ok, given a pat on the back and bailed out.

Disgusting.



posted on Dec, 27 2008 @ 01:04 AM
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reply to post by semperfortis
 

All bailout loans should be adjustable rate loans that have a one year fixed interest and readjust upwards, of course, every quarter thereafter. A taste of the common man's situation may do the overpriced executives some good.
While we are at it, executive compensation for all companies getting a bailout loan should be limited by Federal salary guidelines. I would put it at about $160k/yr, max.
Further, any company that is so big that it can affect the economics of the country, is too big. Divestiture will break companies into smaller pieces that can be allowed go bankrupt while increasing competition. Banks should be divvied up into commercial, investment, and gambling casino [futures, short selling, derivatives, etc.] types with no crossflow of money.
I would turn the IRS loose on the overpaid gluttons who have collaborated with their fellow board hogs to strip the cash from companies. I would provide incentive pay to the agents for any back taxes, indictments, convictions, and jail terms.
Lastly, I would interpret the anti-terrorism law to allow unrestricted wiretapping on brokers, traders, and stock exchange employees to control financial terrorism.



posted on Dec, 27 2008 @ 02:54 AM
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Welcome to the Centralized and State Controlled Economy


It's not the "communism" that failed in Russia and the other countries. It was the centralized economy which kept producing stuff even if there was not demand, because by law people had to have work place.



posted on Dec, 27 2008 @ 02:56 AM
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I think that if the economy crashes farther, the bailouts that they are handing out will have sent us into the depths from which we will not be able to climb out, sending the country if not the world into a barter and trade type of economy. Hopefully the governments stupidity does not have me throwing scraps together for my family just to get by



posted on Dec, 27 2008 @ 03:14 AM
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reply to post by semperfortis
 


Such an outrageous act has already been committed at the local government level here in Christchurch.



Christchurch City Council has come under fire for neglecting its vulnerable tenants, instead opting to spend millions of dollars by helping a cash strapped property developer.

But the mayor of Christchurch, Bob Parker, is defending his council's decision to buy five properties from cash-strapped property developer Dave Henderson.

The council revealed it has bought the properties for $17 million.

The council says the purchase was necessary but critics are calling it a public bailout for a developer in financial trouble.

"It's a bail out for an individual and I do not believe council should be getting involved in that," said Yani Johanson, a Christchurch City councillor.



Source

Although not mentioned in the article the Public Bail Out of Henderson was panned by pretty much everyone on the political spectrum . The only thing these kinds of Bail Outs can achieve is to deny legitimate investors the chance to buy up bargains and reward bad business practices and decision making as per usual .

Make no mistake while I am mild manned on ATS the Bail Outs make my blood boil because the staggering amount of money that is being spend is dooming us all to ten years of a stagnate global economy or a depression .



posted on Dec, 27 2008 @ 03:30 AM
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all the publics worth, its value, its monetry value... is being sucked dry and pretty much transferred, via digital numbers to a corporation.

Who else can cook the books, ruin an industry then ask the government for money to fix it....?

Im surprised the petroleum industry hasnt declared financial tumoil, what, being with the current crisis and all? seem everything other friggen rich CEO can ask the government for handouts...



posted on Dec, 27 2008 @ 03:55 AM
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Hey everyone, here's an idea:

Why not somebody go up too the white house lawn and put up a 'FOR SALE' or 'SOUP KITCHEN' sign on it, then snap a picture of it, paste the picture all over the internet.

Lets not stop there, lets put one up on the senate house to, and the FBI building, and the FED Reserve building.

Sooner or later someone will get the idea



posted on Dec, 27 2008 @ 06:35 AM
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The real estate market needs to go bankrupt. A bail out will not help them. If their companies are strong enough, they will survive.



posted on Dec, 27 2008 @ 06:43 AM
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if commercial realestate corporations, like mall owners, sign up for bailout money... the money might delay a foreclosure for 6-12 months...
so what
the recession is generally seen as growing worse inthe next 12-16 months
so the mall businesses will likely break their leases anyhow.


[something thats glossed over..is that the gov't lender then has unknown controls over the business involved...the business is now a fascist entity]


Then we must ask ourselves, just what about all those now unemployed realestate agents/brokers who once sold residential realestate, should the state pay them too?


then bailout all the idle commercial & residential builders, because there is a 12 month inventory of new homes sitting there unsold?


let's bailout myself, for all the intellectual property i am no longer able to dispense in the information markets.



posted on Dec, 27 2008 @ 06:53 AM
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Originally posted by Sestias
The bailout of the automakers was supposed to benefit the middle class. Not just the autoworkers who would be unemployed by the thousands, but also those in related industries from auto parts manufacturers to steelmakers, to tire manufacturers, glassmakers, plastics industries, etc.--on and on into millions of jobs.


Here's to FORD motor company for saying they DO NOT need bailout money. I own a FORD F150 and am proud of that company.

www.huffingtonpost.com...



posted on Dec, 27 2008 @ 08:00 AM
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Wasn't this money going to the banks suppose to help the realestate side by helping homeowners but then it went to the bank instead to promote the lending of money for such things as realestate at the last minute?

I can't believe this. It is the stupidest thing I have ever seen concerning the economy. If anything all these requests for bailouts is going to do is cause people to spend even less money fearing it's only a matter of time before they lose everything.

Hope you own everything you have right now cause if this does keep up companies will start falling left and right with board members walking away with billions and retiring.

Man I really hope the govt. draws the line here and soon not only for the sake of the people but also for the sake of any type of real govt. existing. I say that cause last thing I need to do is guard my house 24/7 with a shotgun or automatic weapon.







 
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