"Extend & Pretend" seems to be a good title...can it hold water long-term?
At the encouragement of industry regulators, banks have extended the terms of many of their commercial real estate loans, hoping that property values or occupancy levels will improve before long.
"There is an element of 'extend and pretend' going on," said Tanya Azarchs, credit analyst and managing director for Standard & Poor's. "It is in their [banks'] interest to do that." [...more...]
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