Treasury secretary's plan might come too late for CRE

02/23/2009 | Palm Beach Post (Fla.), The

Treasury Secretary Timothy Geithner has a plan to stabilize the finance industry, but it might come too late for commercial real estate, which is following residential real estate's downward spiral. "There's no question that the commercial real-estate market is under a great deal of stress, and it's going to continue to be and will probably be worse a year from now than today," Bank of New York Mellon Corp. CEO Robert Kelly told Congress earlier this month.

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Palm Beach Post (Fla.), The

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