The bailout

"You save the banking system, now what are you going to do with all this distressed property?"

--Dennis Hedlund, president and founder, iEmergent, "$700 billion question: fate of bad loans," Inman News.

"There is only one thing necessary to understanding what is happening and it is this: no one at U.S. Banks, no one at the Federal Reserve and no one in politics can accept the reality that real estate assets in this country remain oversupplied, overpriced and overleveraged."

--Kevin Depew, executive editor of Minyanville.com, "Will the Bailout Succeed?"

"Short-sellers ensure that bad news is more quickly reflected in market prices. Capital is thereby allocated to more productive uses. If there had been more short-selling of Northern Rock during its ferociously irresponsible expansion based on borrowing money in the wholesale markets and lending it out as mortgages, much public money might have been saved later on."

-- former hedge fund manager Oliver Kamm, "In defence of the herd of greedy pigs," The Times of London.

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