Does Morgan Stanley “Walking Away” from CRE Contribute to Strategic Defaults?
http://www.calculatedriskblog.com/2009/12/does-morgan-stanley-walking-away-from.html Note that Morgan Stanley is current on the loan and is not in foreclosure. They are simply “walking away” because the buildings are worth less than the amount owed… One of the greatest fears for lenders (and investors in mortgage backed securities) is that it will become socially acceptable for upside down middle class Americans to walk away from their homes. Uninsured in Japan: a medical trip report http://www.dailykos.com/storyonly/2009/12/18/816168/-Uninsured-in-Japan:-a-medical-trip-report “when I get 3 prescriptions filled in 5 minutes and they are SORRY they have to charge me a whopping 30 bucks for it, and I see people back home paying many times that, I have to wonder how we’re managing to do things just this wrong.” Frank Stanton and the CBS Blacklist http://thekisseloffcollection.com/wordpress/KC/?p=236 Stanton literally handed him a list and said, “No one on this list gets hired.” …Produ
