Clarity On Recent Events Sought by CRE

For more on the financial crisis, check out GlobeSt.com’s Webinar , “Wall Street In a Freefall—The Winners and Losers.”

WASHINGTON, DC-Another day, another government action to stave off an economic catastrophe. The commercial real estate industry, perhaps shell shocked at the rapidity of events over the last few weeks, is pondering what Friday’s $700 billion rescue plan will mean for the business, both now and in the far term.

Indeed, the ramifications are already becoming clear with Goldman Sachs and Morgan Stanley’s conclusion, apparently reached this weekend, that there is no future in investment banking anymore. With the Federal Reserve Bank’s approval of their bid to become bank holding companies, Wall Street as it is currently structured at least, is no more.