Getting your player ready...
WASHINGTON — Mounting losses from commercial-real- estate loans will continue to be a problem for the U.S. and especially smaller banks, but it can be managed, Treasury Secretary Timothy Geithner said Monday.
“Commercial real estate’s still going to be a problem for the country,” Geithner said in an interview with CNBC.
Federal Deposit Insurance Corp. Chairman Sheila Bair has said losses on commercial- real-estate loans are expected to be the primary cause behind bank failures this year, which are likely to exceed the 140 collapses in 2009.
