Geithner: Commercial real estate loans still a problem for the country

Associated Press/WASHINGTON — Treasury Secretary Timothy Geithner says mounting losses from commercial real estate loans will continue to be a problem for the U.S. and especially smaller banks, but that it can be managed.

"Commercial real estate's still going to be a problem for the country," Geithner said Monday in an interview with CNBC. "But we can manage through this process."

Geithner also said the Treasury Department's announcement that it will begin selling the stake it owns in Citigroup Inc., which could net about $7.5 billion to the government, shows "how far we've come" in exiting from the financial bailout program.

Grandpa: Can we assume Mr. Geithner that "managing" is synonymous with issuing more debt via yet another bailout program. As Zero Hedge coined, you simply extend and pretend. You chose to describe the commercial market as "mounting losses" and then without a breath, "it can be managed". Hey Timmy, do you ever toss and turn at night knowing you continue to dump billions on our grandchildren? You will one day be the Grinch that stole our youngsters' Christmas. Sleep well...