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And the hits keep on comin'!
Hits to the market that is. The fifth largest Chapter 11 move in US history came over the weekend with CIT filing. And garnering less press but no less unnerving, the FDIC has seized nine banks operated by FBOP Corp. (http://www.globest.com)
This amid news--from our pals at Real Capital Analytics--that real estate distress actually slowed in September. But, as they are quick to point out, slowing doesn't mean peaking, and to judge by the continued upheaval in various sectors of the lending community, what's ahead ain't gonna be pretty. (Keep repeating it: "The Recovery Has Started, The Recovery Has Started.")
This amid news--from our pals at Real Capital Analytics--that real estate distress actually slowed in September. But, as they are quick to point out, slowing doesn't mean peaking, and to judge by the continued upheaval in various sectors of the lending community, what's ahead ain't gonna be pretty. (Keep repeating it: "The Recovery Has Started, The Recovery Has Started.")
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