US Banks Dumping Exposure To $2,500,000,000,000 Market Before ‘Inevitable Losses’ Hammer Balance Sheets: Report

Some of the biggest banks in America are quietly selling their exposure to a troubled sector of the US economy, according to a new report. The banks are beginning to dump commercial real estate loans in a push to “cut their losses,” reports the New York Times. The Times points to Goldman Sachs and Citigroup, which recently sold portions of a troubled $1.7 billion loan backed by office buildings in New York, San Francisco, and Boston, as primary examples. Capital …