kgb interrogation.. glenn rufrano, page-9

treibs.....
the banks have 2 choices
1) work with CNP, refinance debts into long term.
remember shopping centres are highly profitable.
As Rufrano has said, "CNP does NOT have an operational
problem, it has a balance sheet problem" Operating
profits $150M. reported loss $1B due only to write
downs, not operating losses. If the banks are patient
they will get their money back plus more in the long
run. CNP shopping centres 99% occupied in Oz,
95% in USA. Went to one yesterday - chock a block
full of people spending money.
2) force a fire sale during a property downturn and hence
lose hundreds of millions of dollars. Remember much of
the banks debts are unsecured.
I doubt very much the banks will choose option 2 !