Barrack Jr. explained that the way to get the train moving againis not by blaming people.Congress is lashing the banks for lendingto those who shouldn't have borrowed, he explained. "It's notanyone's fault," he said, "it's a cycle…it's not real estate'sfault or the financial world's fault, it's everybody's fault."
The way to thrive in the worst of times is to give up the past,he explained, noting that everyone's goal is to survive in order totake advantage of the opportunity. "Give up the expectations youhad…they are all wrong, and the people who adapt will be in themiddle of the greatest distribution of wealth we have ever seen inhistory," Barrack Jr. said.
On a bad note, Barrack Jr. explained that in his opinion, "theeffect on commercial real estate hasn't even been felt yet." Thebeginning of the end, he added, is to "fix the banks."
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