Thursday, October 8, 2009


BANZAI7 NEWS--Reuters reports the Federal Reserve’s ballooning balance sheet is turning the fed into a commercial real estate slumlord.

Some of the $29 billion in troubled securities and loans the Fed took on from Bear Stearns as part of last year’s rescue is starting to give rise to lawsuits. These are cases where the Fed is either suing to collect on a multi-billion commercial real estate debt or is trying to fend off claims from rival creditors.

This mushrooming litigation is drawing the Fed into conflicts with commercial developers or into uneasy partnerships with some of the banks it regulates.

It even means that Fed Chairman Ben Bernanke has become a reluctant landlord.

The Donald is rumoured to be in preliminary discussions with Ben Bernanke to produce a new realty TV show called "Flip My Wig". The idea of the show is to see who will be forced to take a "haircut", the Fed or commercial real estate developers.

1 comment:

  1. That photo makes that crazy hair look like it is really his.