Word: cops
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...military interrogator whose efforts in Iraq led to the location and killing of al-Qaeda leader Abu Mousab al-Zarqawi, says old-fashioned criminal-investigation techniques work better than the Army manual. "Often I'll use tricks that are not part of the Army system but that every cop knows," says Alexander. "Like when you bring in two suspects, you take them to separate rooms and offer a deal to the first one who confesses." (Alexander, one of the authors of How to Break a Terrorist: The U.S. Interrogators Who Used Brains, Not Brutality, to Take Down the Deadliest...
...coming wave of defaults on loans to developers of condominiums, office buildings and malls could do significant damage to the already deflating economy. That was the overwhelming concern expressed at a public hearing of the Congressional Oversight Panel (COP) on Thursday that focused on corporate and commercial real estate lending...
...COP was set up last fall as part of legislation that gave the Treasury Department permission to spend $700 billion to rescue the nation's ailing financial system. The panel, which is headed by Harvard Law professor Elizabeth Warren, has no legislative or official regulatory powers. It is supposed to monitor the Treasury's spending and report back to Congress as to whether it is being effective in boosting lending and shoring up the financial sector...
Thursday's hearing was one of a number of public forums the COP is hosting on different segments of the lending market. Warren is often criticized for being too critical of banks and their lending practices. But at the hearing on commercial real estate, Warren focused on how big a problem future loan defaults will be and what should be done about them...
...commercial real estate could turn out to be a much bigger problem for banks and the economy than the Treasury Department, the Federal Reserve and other bank regulators seem to believe. "The question is, What percentage of commercial real estate loans will have trouble refinancing?" Parkus said at the COP hearing. "It is likely to be a big problem...