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The Latest Spin On Collapsing REITs And Taxpayer Subsidies

By Implode-Explode Heavy Industries

" The PPIP is all but dead. But don't tell that to perma-CRE-bull Barry Sternlicht. The owner of such debacles as iStar (last time we checked the all time worst name in the IG11 index) and RevPar plummeting hotel chain Starwood hotels, is hoping to raise brand spanking new capital via an IPO for, of all things, a new REIT - Starwood Properties Trust, and use taxpayer money to buy other bankrupt hotels."

Full post as published by Mortgage Lender Implode-o-Meter on June 08, 2009 (boomark / email).