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Old 10-30-2009, 07:34 PM
Elliott's Avatar
Elliott Elliott is offline
 
Join Date: Apr 2002
Location: Pumpland
State: Oregon
Professional Status: Certified General Appraiser
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Default "Connecting Dots" or "Was that a shoe I heard dropping?"

Oct. 26 (Bloomberg) -- Capmark Financial Group Inc., the lender owned by companies including Goldman Sachs Group Inc. and KKR & Co., filed for bankruptcy protection after posting a second-quarter loss of about $1.6 billion.

The company listed consolidated debt of $21 billion and consolidated assets of $20.1 billion as of June 30, according to Chapter 11 documents filed yesterday in U.S. Bankruptcy Court in Wilmington, Delaware. Forty-three affiliates also sought protection.


And just a few days later..........


WSJ 10/30/09 Federal bank regulators issued guidelines allowing banks to keep loans on their books as "performing" even if the value of the underlying properties have fallen below the loan amount.

The volume of troubled commercial real-estate loans is skyrocketing. Regulators said that the rules were designed to encourage banks to restructure problem commercial mortgages with borrowers rather than foreclose on them. But the move has prompted criticism that regulators are simply prolonging the financial crisis by not forcing borrowers and lenders to confront, rather than delay, inevitable problems.
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Old 10-30-2009, 08:23 PM
Randolph Kinney Randolph Kinney is offline
 
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Location: SoCal
State: California
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Nice article. Cooking the books is what we suspected.
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Old 10-30-2009, 08:29 PM
Tom Watson Tom Watson is offline
 
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State: Oregon
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If you reward crooks, what happens? Well, they reward crooks and so on ad nauseum
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