With no banks around, how do hotels refinance?

“The assets of these banks, and the other 158 banks that have shut down since the beginning of 2009, were assumed by other banks, so all is not lost—even if the closings cost the government-run Federal Deposit Insurance Corporation more than US$30 billion.

“Reports indicate that the FDIC expects the cost of resolving failed banks to grow to about US$100 billion during the next four years. And that’s my point. How can there be any significant economic recovery if we have 100 or so banking companies failing every year? And more important to hotel developers, how can they expect many loans to be granted when local and regional banks are watching their backs, dreading the arrival of the federal regulators?”….  Click here for entire Jeff Higley report…