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It appears that the Nov. 1, 2009 bankruptcy of CIT is just the beginning of something much bigger. Especially since it came on the heels of Capmark (formerly GMAC) on Oct. 26. Both collapsed as the result of the contraction of the commercial real... Read More
Series: How Eternal is Eternal? - Augustine, the fifth-century bishop of Hippo, argued against Universal Reconciliation in his book, The City of God, XXI, xi, "Moreover, some of those against whom we are defending in the city of God think it unjust that a man should be con... Read More
We think we have problems . . .Japan is worse off, and getting worse by the day because its currency is too strong compared to the dollar, and imports are down by a third because Americans don't have the credit to buy more of their autos. http://www.t... Read More
From the D.C. propaganda mill and the wishful thinkers on Wall Street, one would think that the current recession has "turned the corner." Of course, if you recall, it was supposed to have turned the corner a year ago, too. As I have said many... Read More
Here is another bankruptcy in the commercial real estate sector, as the commercial real estate market collapses. http://www.bloomberg.com/apps/news?pid=20601087&sid=a3Z4h4E8kNp8# Capmark, with assets of $21 billion, used to be known as GMAC. (Compani... Read More
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