The Financial Times with the report on remarks from Berkshire Hathaway vice chairman Charlie Munger.
The FT is gated but MSN citing Fortune provides a summary:
Munger warned of the state of America’s commercial real estate, noting U.S. banks were saddled with “bad loans” amid falling property prices.
- “It’s not nearly as bad as it was in 2008,”
- “But trouble happens to banking just like trouble happens everywhere else.”
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I guess "not as bad as 2008" is good!
Something for the bank traders to note.
Munger, Buffett
