For more on the financial crisis, check outGlobeSt.com's Webinar, "Wall Street In a Freefall—TheWinners and Losers."

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MIAMI-As banks watch a historic moment in the American financialsystem unfold, commercial real estate assets are being auctionedoff in order to avoid fall out. Last week companies like WachoviaCorp. were looking to liquidate assets, but now that Wachoviahas merged with New York City-based Citigroup Inc., alleyes are scanning for the next big bank move.

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Ohio-based National City Corp. also looked to liquidate assetslast week, and today was down 57% on the New York Stock Exchange."There are a number of regional banks which may need help, eitherbecause of the weakening mortgage market or simply because of theweakening economy," Michael Sheldon, chief market strategist, RDMFinancial Group, told Reuters Monday.

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According to a story published by American Banker, regionalbanks are getting creative in trying to help themselves by sellingoff distressed assets. Alabama-based Colonial BancGroup, amulti-state bank holding company with $26 billion in assets, set upan office in Florida for bankers to show available residentialproperties for sale.

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The writer identified Synovus Financial Corp. of Columbus, GAand Fifth Third Bancorp in Cincinnati as banks using onlineauctions and portals to offer assets to buyers. There are benefitsto dumping assets quickly, according to the story, but auctioningmay not be the answer for all banks. BB&T, for example, chosenot to sell after holding an auction because they were disappointedwith the price bids.

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