Promissory Note = Negotiable Instrument
ILLA Saves Bank From Alleged Misrepresentation That Loan Was “A Go”

Next Up For A Bailout - Real Estate Developers?

The Wall Street Journal and Reuters, among others, are reporting today that the commercial real estate industry is angling for governmental assistance.  Here are the links:

WSJ:  Developers Ask U.S. for Bailout as Massive Debt Looms

Reuters:  Commercial property industry seeks bailout aid 

Certain sources forecast the potential for a high volume of foreclosures over the next couple years as commercial real estate loans mature.  But, is a bailout warranted ... or even workable?  I'm scratching my head. 

I'll keep an eye out for further news stories and commentary on this developing situation.