Commercial Lenders Plan to 'Extend and Pretend'
There was an interesting front page article in the Wall Street Journal yesterday: To Fix Sour Property Deals, Lenders 'Extend and Pretend', referring to the fact that some banks are now giving borrowers who can't repay their loans more time, in hopes that things will "work themselves out on their own," and that as things improve, debtors can repay later. Skeptics are calling this practice, "Extend and Pretend."
