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The last two weeks has been history in the making where corporations, banks, and the like have in many cases gone down almost overnight based on public confidence which in turn affects the Wall Street market. After meeting with President Bush today, the White House has announced that both Bernanke and Paulson will address a special session of Congressional Leaders this evening regarding solutions to this situation.
All of us in our respective real estate related industry sectors should key in on what's happening by staying as up to date as possible. Check back really soon for updates.
In the mean time check out today's Bloomberg detail of this event below:
http://www.bloomberg.com/apps/news?pid=20601087&sid=ap5S4G6bhJ2M&refer=worldwide
After 38 years in the business as a banker, mortgage banker, and broker, I have witnessed some amazing things , but this one will be history making. It is critical, not that I have all the answers, to be as proactive as possible in these trying times. For some that means going back to basics. It is not that we should not be concerned....to the contrary....but it is our obligation to try to educate our public based on our level headed analysis. This means keeping a finger on the pulse.
Best Regards
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