To be sure, there were many critics of TARP within the CREindustry; the criticism focused on the mechanics of how the assetswould be valued and purchased as well as concerns that the fundswaiting on the sidelines to pick up distressed paper and assetswould be priced out of the market by taxpayer funds.
Still, though, to have the program snatched away suddenly is ablow -- – both in the expectations that funding would improve as aresult of the buy-back program, as well as a vague confidence thatTreasury really knew what it was doing.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
