The Federal Reserve just keeps getting in deeper and deeper to bail out their Wall Street bankster buddies.
The Federal Reserve announced Friday that it will launch a much-awaited program in June to bolster commercial real-estate lending.
And, to help make the program more attractive to investors, the Fed will provide longer, five-year loans.
Investors would use the money to buy securities backed by commercial real-estate loans.
"There's a looming crisis in commercial real estate whereby owners of shopping malls, hotels, rental properties and many other types of buildings are unable to refinance or to pay for new construction," Fed Chairman Ben Bernanke warned lawmakers on Capitol Hill in March.
The market for so-called commercial mortgage-backed securities, or CMBS, came to a "standstill in mid-2008," the Fed said Friday in announcing the launch of the new piece of the TALF program. The CMBS market accounted for almost half of new commercial mortgage originations in 2007, the Fed said.
This looks like another attempt to bail out the Wall Street speculators at the expense of the taxpayers.