www.nytimes.com/2009/04/06/technology/business-computing/06blue.html

I.B.M. Withdraws $7 Billion Offer for Sun Microsystems

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All of this makes me so sick… who the heck is making all of the money that is lost? or who is making money on what government is giving away?

According to The Wall Street Journal, delinquencies on commercial mortgages are soaring. The delinquency rate on $700 billion in securitized commercial real estate loans has more than doubled in just the past six months. At 1.8 percent, it’s still low on an absolute basis. But it’s the direction that counts, and analysts are now expecting delinquency rates to rival those seen in the early 1990s commercial real estate collapse.

So what does that say about the value of CMBS — Commercial Mortgage Backed Securities? The value of those securities SHOULD plunge. Yet industry lobbyists claim that it’s not crappy fundamentals driving their value down, it’s liquidity — and that they shouldn’t have to take big mark downs as a result.

Geithner Plan Structured as a Blatant
Wall Street Giveaway …

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