Bank Closings Worsen Liquidity Crisis, Remington Capital Reports
By Heather Hill Cernoch | 09/03/2010
The uptick in bank failures is further deteriorating the nation's liquidity crisis, according to Andy Bogdanoff, chairman of Remington Capital, an international commercial real estate investment banking company. This surge in bank closings may ignite more bankruptcies for commercial real estate owners in need of financing, he warns, particularly since some $1.2 trillion in commercial mortgage debt is scheduled to mature over the next few years and most U.S. banks are unable or unwilling to extend new credit.
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