>>>> 1,000 financial institutions could fail.... housing prices are likely to fall another 12 percent in the next year... commercial real estate market.... Allowing forbearance ... will mask underlying problems <<<<
Can’t say I disagree with any of that.
The junk (mostly from real estate speculation) needs to be wrung out of the financial system to the greatest degree possible.
Letting commericial real estate speculators off the hook will leave us in the same position as Japan, with 20 years of stagnation because we can’t or won’t face reality.
(BTW, nothing against speculators, but when you lose, you lose.)
Finance, commercial real estate, the Democrat and Republican elite are all one big internal bickering party.
So, they are not going to lose.
(That means me and you, sucka. Pay up!)