News
Crisis Ain't Over
May 24, 2010
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| The proposed “Financial Crisis Responsibility Fee†will reduce lending capacity by $900B at a time when $1.4T in CRE debt will need to be refinanced over the next two years. That was the message at a gathering of The Real Estate Council's board of directors and Dallas 100 founding members, where we snapped Financial Services Roundtable CEO Steve Bartlett (2nd from the left) with TREC prez Michelle Corso, Pillar Commercial prez Manny Ybarra, and Deloitte's Jim Berry earlier this month at Ocean Prime. Steve says while he believes that 80% of the current financial reform package is positive and will help the US economy, the remaining provisions could undermine capital production and job creation. What, you thought we'd end on non-apocalyptic news? Got to start Monday off right. |
