There was apparently a problem with the timing of the release of a report from the Congressional Oversight Panel of the Troubled Asset Relief Program (TARP). Instead of it being released on February 10, 2009, it was released today. We’re not, as they say, the sharpest tools in the shed, but we’ve been talking about the potential for commercial real estate to be a problem for quite some time.
To be fair, it would seem that the fourth quarter Asset Quality report from the FDIC gave rise to the report, but the story below shouldn’t be considered news. The chairman of the committee, Ms.Warren, sounded positively breathless this morning on NPR as she commented on the report.