Word: generalizing
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...General Growth (GGP), the big mall owner, filed for bankruptcy, as many experts thought it would. The company has $27 billion in debt and, with real estate prices depressed, it may be impossible to raise even close to that amount of money through asset sales...
...would be expected with any large commercial real estate enterprise, General Growth is highly leveraged and was probably able to get mortgages with ease at the height of the real estate boom...
...General Growth owes billions of dollars to Citigroup (C), Deustsche Bank (DB), and Goldman Sachs (GS). It is very likely that every large money center bank and investment house has loaned money to commercial property owners because not so long ago the value of these assets was rising sharply every year...
...clear whether the government looked closely at commercial mortgage loans when it did its "stress tests" on banks. It is also not clear what assumptions the government used for the default rates of this paper. The $27 billion in debt that General Growth holds seems like a great deal of money. But, looking at all of the commercial real estate holdings across the country, particularly those with mortgages taken out between 2003 and 2007, and the problem is deeper than most people can imagine...
...decrease the bad outcomes in people who get heart disease within the setting of diabetes?" says Dr. David Nathan, director of the diabetes center at Massachusetts General Hospital. "There is just no clear answer to that...