Geithner: "Economy can manage" commercial real estate crisis
There's no serious danger that the deepening crisis in commercial real estate will trigger a new credit crunch, said Treasury Secretary Timothy Geithner, speaking to the Economic Club of Chicago. He was asked if commercial property's problems could drag the nation's banking system into another crisis. "I don't think so," he said. "That's a problem the economy can manage through even though it's going to be still exceptionally difficult."
Bloomberg | 10/29
This story published in Real Estate Investment SmartBrief on 10/30/2009
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