A new round of defaults is reportedly anticipated from developers and builders engaged in Commercial Real Estate. See, e.g., Heather Landy and Dana Hedgpeth, "Crisis Hits Values of Commercial Mortgages" (Washington Post.com, Thursday, November 20, 2008); Neil Irwin and Renae Merle, "Financial System Suffers Relapse" (Washington Post.com, Friday, November 21, 2008).
This would hit Insurance Companies hard. Insurance Companies historically have provided much of the financing to Commercial Real Estate developers and builders. Steven Pearlstein, "Hank Didn't Start the Fire" (Washington Post.com, Friday, November 21, 2008).
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