real estate developers share of the bailout money?

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Here’s a clip from the AP story:Commercial real estate developers said Monday they also are petitioning the government for support from the $ 700 billion rescue fund. The Real Estate Roundtable said an estimated $ 400 billion of commercial real estate mortgages will come due by the end of 2009 without adequate refinancing options.

Industry officials said thousands of office buildings, hotels, shopping centers and other commercial buildings could be headed into foreclosure or bankruptcy unless the government provides support.

Jeffrey D. DeBoer, president of the Real Estate Roundtable, said the industry has written to federal officials asking to be included in a new $ 200 billion loan program being run by the Federal Reserve, with support from the financial bailout program, to bolster the market for credit card debt, auto loans and student loans.

DeBoer said the commercial real estate industry would like to see that program expanded to cover their properties or have a similar program begun to help their industry.

So I had to ask Banks car companies and now maybe commercial real estate developers… So where will the government getting around to helping those in real need… American families???
Well said Toopy but I still have to point out these are the very same people who landed us in this mess and they rather then step-up and try to fix the mess they made the go whining about needing more money because we little guys can no longer afford their services.

2 Comments
  1. Reply
    teeinks
    May 16, 2011 at 3:34 am

    🙂

  2. Reply
    Toopy Flannigan
    May 16, 2011 at 4:33 am

    I have asked the same question over and over again. I am extremely pissed that OUR taxes are being use to support PRIVATE companies. Truth of the matter is, they are not interested in helping us and the only way we can get any relief is to demand it by action. I don’t mean calling congressmen and senators, I mean taking to the streets. A $ 600 stimulus check is BS! With the money they used to bail out all the MF’rs, they could have given every American, man woman and child several thousand dollars to spend. That was a sure way to boost the economy. But, the longer it goes on the more convinced I am it is a setup and the more I fear nothing will ever happen for the people because the people will not demand it. WE ARE THE PEOPLE!

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