this post was submitted on 29 Aug 2023
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It's the commercial real estate mortgage backed securities market. If everyone doesn't pay office rent the collateralized debt of those places goes kaput, the security implodes like 2008 and the banking industry goes under.
These CEOs are all invested. They don't care about productivity, it's all about saving their investments.
I Say they should get fucked. I don't see why somebody 's bad investment is my problem.
Maybe they should be better business men and should have foreseen this.
Which translates to the banking industry learning some lessons and becoming more efficient. Yes, please.
Other than that, some drop in realty prices is welcome.
The only thing they'll learn is the date their next rubberstamped bailout check from the government is going to come.