Orange County Register

 8 Comments

• Bruce says:

  December 24, 2008 at 12 am

  I think banks should stop writing off bad loans and go into the property management business for houses and commercial property. That way they can grow their business and not have to grovel to the government for a bailout. Citi Property Managment kind of has a ring to it. Who knows, after 10 years or so, Citi Property Management might even be bigger than Citibank.
• rants says:

  December 24, 2008 at 1 am

  did anyone ever stop to ask where a government that
  is already– for all intents and purposes- bankrupt–
  going to get the money for more bailouts? and where
  do the “bailouts” end.. these county workers certainly
  will want their bailout money… and the hundreds of
  thousands more that will soon be joining them too…
  dont forget the homebuilders… car dealers…
  and millions of small business owners… the list
  goes on but my fingers are getting tired….

  http://www.ocregister.com/articles/county-workers-berardino-2265881-wants-jobs
• Spam says:

  December 24, 2008 at 7 am

  They should be more worried about commercial tenants than the landlords.
• WaitingInOC says:

  December 24, 2008 at 11 am

  The theory behind the Wall St. bailout was that it was necessary to keep the economy from freezing up and putting a lot of people out of work. While I don’t agree with the bailout, at least that was the idea. However, commercial landlords do not fit these criteria. Banks repossessing commercial properties will not freeze the economy, and commercial landlords just don’t employ that many people (compared to Wall St. firms and banks).

  Additionally, the commercial landlords cannot (with a straight face) argue that they were put into loans that they did not understand. These are savvy folks who should be able to take care of themselves. If they made a bad investment, then they should take the loss.

  Let the banks repossess the properties and sell them for what they can get. If the prices drop, then that means the new landlords will not need to charge as much rent to get their return. The tenants can pass on the savings from the lower rent to customers in the form of lower prices. The average person comes out ahead in this scenario. As for any losses the banks will take, they already have access to the TARP (so they don’t need another baiout). So where is the public good in bailing out the commercial landlords?
• OverRuled says:

  December 24, 2008 at 12 pm

  Everyone is responsible for his/her own finance. No one deserves any bailout.
• SEAN IN NEWPORT BEACH says:

  December 24, 2008 at 1 pm

  Bailing out real estate just props up the overinflated values which CONTRIBUTED GREATLY to this mess.
  Tossing more money to them makes as much sense as giving housing loans to people without proof of income.
  Seems like the real reason for thesubprime mess was rooted in the lie that you could package high risk loans together to create lower risk finance vehicles(derivatives?). This of course works when you add low risk loans into the financing. Its like these geniuses were multipling two negitive values to get a positive value when they should have been ADDING 2 negitives to get a higher negitive value.
  SOMEBODY SHOULD HAVE BEEN CHECKING THEIR MATH (READ: REGULATORS)

  Right now I see only 3 (available) things deflating in this economy: stock values,gas and housing prices ( bank loans are also deflating but they aren’t available).
• rants says:

  December 25, 2008 at 1 am

  shane wants a bailout too- he didnt listen to me
  and bought at the very pinnacle of the real estate
  bubble and is now so underwater hes sprouted
  gills-

  xtra xtra read all about it– option arms are/will be hammering
  upper end real estate– good news for shane though…
  he isnt in the upper end

  http://mrmortgage.ml-implode.com/2008/12/23/pay-option-arms-the-implosion-is-still-coming-despite-low-rates/
• Kiu says:

  December 25, 2008 at 6 pm

  Why should I bail out the Irvine Company? or Westfield? or Segerstrom (owner of South Coast Plaza)?