"My favorite story of the day so far, though, is the Australian real estate holding company that bought no fewer than 700 American shopping malls - I have a hard time imagining a better image of speculative excess than that one fact - using funds from the commercial paper market. They've got $3.4 billion in loans due for repayment on February 15, and their chance of finding a lender to roll those loans over just now ranks down there with the proverbial snowball in Beelzebub's back yard. So the entire company is up for sale.
I don't imagine any of my readers cherish a lifelong ambition to own 700 shopping malls, but if I'm wrong, here's your chance." http://thearchdruidreport.blogspot.com/2008/01/future-that-wasnt-part-two.html
