The Congressional Oversight Panel’s new report predicts more trouble ahead for the already suffering banking industry. The Feb. 11 analysis says a wave of commercial real estate loan defaults over the next four years could jeopardize the stability of midsize and small banks. As much as $1.4 trillion in commercial real estate loans made over the last decade will require refinancing in 2011 through 2014. Nearly half of those loans are currently “under water,” the panel says, meaning the borrower owes more on the loan than the underlying property is worth. The panel, created in 2008, concludes government intervention may
The 2016 Summer Olympics boating and swimming events have put an international spotlight on what has been a long-running problem in Rio de Janeiro—untreated sewage and trash are clogging up major bays and waterways.