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5/27/10

postheadericon The Mall Is Undead, but Maybe Not for Long

Maybe not tech-related, but this is on everyone's horizon.  This is the real kicker to the US mortgage crisis.
The $3.4 trillion in commercial debt currently outstanding in the U.S. By 2014, $1.4 trillion of that will reach maturity, and as much as half is owed to small banks which are decidedly not too big to fail. In February, the Congressional Oversight Panel concluded that a "significant wave of commercial mortgage defaults would trigger economic damage that could the touch the lives of nearly every American."
Link here.

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