From the Wall Street Journal: "For a time, glimmers of stability appeared in the financial system as banks and brokerage firms got much-needed capital injections and support from governments and central banks. The credit markets showed signs of improvement in key areas such as lending between banks. And hopes arose that the housing market might be close to stabilizing.That bit of optimism was quickly dashed by worries that the commercial real-estate market had cracked. The fresh worries sent shares of banks and insurers, which are heavily exposed to that market, tumbling."
Commercial Real Estate Major Buzz Kill for Any '08 Recovery
Copyright Obser - Observer