How Things Change So Quickly; Wachovia Goes to Citi
September 29, 2008
The lender that was honored as “Lender of the Year” for 2006 just two short years ago has now seen itself get sold to Citigroup for next to nothing. Wachovia, who held the position as the largest commercial lender and servicer in 2006 is now gone. Wachovia generated in excess of $60B in commercial mortgages [...]
Read More >>JP Morgan to Acquire Washington Mutual Assets
September 25, 2008
Though it seems a final deal has yet to be finalized, it seems JP Morgan Chase will be suitor for Washington Mutual, or at least a portion of its operation according to multiple reports. Washington Mutual put itself up for auction last week, and a number of banks came forth to evaluate it, including Citigroup, HSBC, [...]
Read More >>Biggest Banks Likely Beneficiaries
July 15, 2008
In commercial real estate, the best buildings tend to maintain the highest levels of occupancy, even in a downturn. As the market softens, tenants try to take advantage by moving into better buildings.
I suspect what we’re seeing right now in banking will be similar to what happens in commercial real estate. As the media continues [...]