Business & Finance
FDIC Chairman Bair Defends Extend and Pretend
For more than a year now, multifamily equity funds, owners, and brokers have complained about the “extend and pretend” policy in the banking industry that have allowed owners with troubled loans to keep their assets. Yesterday, at the 2010 ULI Fall Meeting, Shelia Bair, Sheila Bair, chairman of the Federal Deposit Insurance Corporation (FDIC) defended that policy.
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