Posts Tagged ‘Treasury’
Can the bubble’s wounds be healed?
New from me, in the Jan/Feb American Prospect: A look at why reversing the damage caused by urban real estate speculation in the bubble will be easier said than done.
Short answer: Treasury and the FDIC don’t want to force already-teetering banks to take losses. But that leaves cities like New York littered with buildings their owners can’t afford to maintain (or even finish) – and anyone living in or near these structures watching them decay.
