Citi Real Estate Executive Fed Up With Bailed Out Firms Holding Onto Toxic Assets

Author:
Updated:
Original:

Citigroup Property Investors CEO Roger Orf has clearly not read the toxic asset playbook. If he had, he'd know that the game plan for dealing with toxic real estate assets is to create a series of proposals designed to distract people for a couple months while waiting for your deity of choice to deliver a property valuation miracle that makes parting the Red Sea look like a cereal box magic trick. Instead, Orf wants governments to force bailed out banks to sell toxic real estate assets through a hallmark Citi strategy.

"I personally feel the best way to do that is through creative destruction as opposed to a malaise where you let the air out of the tire over a number of few years"

Citi urges governments to pull bank foreclosure trigger [Retuers]

Related