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| Re: Why NYC could benefit from municipal bankruptcy (1981390) | |||
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Re: Why NYC could benefit from municipal bankruptcy |
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Posted by AlM on Fri Apr 26 17:47:46 2024, in response to Why NYC could benefit from municipal bankruptcy, posted by Peter Rosa on Fri Apr 26 16:27:06 2024. when - not if - the commercial real estate market collapsesA lot of the capital in those buildings was invested by banks, not the developers. If Chase, say, has a $50 billion loss the layoffs will be all over the country, not just in NYC. The developers themselves will just pull a Trump and have specific subsidiaries go bankrupt. They'll survive just like Trump survived his bankruptcies. |
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