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split710

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split710

Re: None

Sunday, 10/24/2010 5:34:33 AM

Sunday, October 24, 2010 5:34:33 AM

Post# of 2684
losses mount on loans made for commercial property


"With 139 closures nationwide so far this year, the pace of bank failures exceeds that of 2009, which was already a brisk year for shutdowns with a total of 140. By this time last year, regulators had closed 106 banks.

The pace has accelerated as banks' losses mount on loans made for commercial property and development. Many companies have shut down in the recession, vacating shopping malls and office buildings financed by the loans. That has brought delinquent loan payments and defaults by commercial developers."

http://finance.yahoo.com/news/7-banks-closed-in-Fla-Ga-Ill-apf-1135619637.html?x=0&sec=topStories&pos=6&asset=&ccode=
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