Word: crunch
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...credit crunch has thus far focused on the residential mortgage mess. But with $1.3 trillion in loans to shopping centers and other commercial properties coming due between now and 2013, another time bomb is ticking. In a report scheduled for release on Wednesday, Deutsche Bank estimates that at least half the loans - and two-thirds of those packaged and resold as securities - will not qualify for refinancing. As a result, many borrowers will likely default, leading to losses on securitized mortgages of $50 billion or more and losses of at least $200 billion on commercial real estate loans overall, according...
...course, the Wall Street professionals are also leaving behind the most uncertain time in finance in their careers. The credit crunch has effectively shuttered a number of markets and put a halt to most mergers, leaving some on Wall Street with little to do. What's more, in the past year, financial professionals have gone from masters of the universe to subjects of ridicule. That makes now a good time to switch to a profession that seems more beneficial to society, even to Wall Streeters...
...upperclassmen have led us and carried us, starting with Brady,” freshman Matt Jones said. “He’s the go-to hitter—we go to him when it’s crunch time, and Gil runs the offense. Those are the two guys that I think have really been a part of our success, not only with their effort on the court, but they’ve also fostered a good mentality as far as dedication and working hard...
...significantly affected student employees, adding that the eliminated shifts were often left unstaffed after the lottery process used to assign shifts at the beginning of each semester due to student preferences. Selsby indicated that FAS IT will prioritize its infrastructure and provided services in responding to the economic crunch, though he emphasized that the UA program also remains high amongst those priorities, since the department already considers the program a cost-saving measure in itself. Selsby mentioned, however, that FAS IT might actually see a trend of increased student employment as economic realities reverberate, especially for undergraduates with webmaster experience...
...unlike its much larger financial rivals, Cantor never made home loans. It trades mortgage bonds, but never held onto bundles of those bonds hoping to make a big profit. That means Cantor has not had to suffer the same credit crunch that its larger rivals have been struggling with for more than six months as many of those loans or bonds have gone bad. Many firms have had to pull back from some trading businesses, or go out of business all together...