You knew this was coming. Now the taxpayer will get to pick up the tab for the crooks in the Commercial Real Estate Market. REITS and Morgan Stanley should go parabolic on the new wealth transfer from Taxpayer to Shareholder (not really, but there may now bw a floor below them)...
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=apX0Vu7khgHU
On a side note, I talked to a buddy of mine yesterday who is in the Residential Real Estate construction business. He told me that unit volume is very strong. He then told me that they are losing money on every unit they sell...
Sounds like Techland 2002.
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