Word comes today that the queue for bailout money is lengthening, with commercial real estate developers the latest sector rattling its cup for taxpayers’ money.
The developers see mortgages totaling about $530 billion coming due in the next three years for thousands of office buildings, shopping centers, and other commercial buildings. The developers warn that without a government infusion of taxpayer money, the properties are headed for defaults, foreclosures, and bankruptcies.
Real estate interests are joining the bailout line-up that as of this media alert includes telecommunications companies, state and local governments, U.S. auto makers, and financial-services firms.
And more inevitably will join the ranks, say experts at The Heartland Institute, a free-market think-tank based in Chicago. For sources who can explain why bailouts are ineffective economic policies from the get-go and why the line of companies and industry sectors will lengthen, please contact these experts:
Jim Johnston, policy advisor
(312) 377-4000
[email protected]
for general commentary on bailouts.
Matthew Glans, legislative specialist
(312) 377-4000
[email protected]
for general commentary on bailouts.
Steve Stanek, managing editor, Budget & Tax News
(815) 385-5602
[email protected]
on bailouts for commercial real estate, state and local government, auto manufacturers, and financial services.
Jim Lakely, managing editor, Infotech & Telecom News
[email protected]
(626) 421-9414
on bailouts for telecommunications firms.
Greg Scandlen, director, Consumers for Health Care Choices
(301) 606-7364
[email protected]
on bailouts for state Medicaid programs.
