http://finance.yahoo.com/news/Watchdog-says-bad-assets-apf-2147038643.html?x=0&sec=topStories&pos=6&asset=&ccode=
When people have no jobs, what other outcome can they really expect seriously?
If you have no money you can't buy the honey
Owners of shopping malls, hotels and offices have been defaulting on their loans at an alarming rate, and the commercial real estate market isn't expected to hit bottom for three more years, industry experts have warned. Delinquency rates on commercial loans have doubled in the past year to 7 percent as more companies downsize and retailers close their doors, according to the Federal Reserve.
The commercial real estate market's fortunes are tied closely to the economy, especially unemployment, which registered 9.4 percent last month. As people lose their jobs, or have their hours reduced, they cut back on spending, which hurts retailers, and take fewer trips, affecting hotels.
Ten months into the federal rescue program, the troubled assets "remain a substantial danger to the financial system," the report says. "Financial stability remains at risk if the underlying problem of toxic assets remains unresolved."
