All the King´s Horses or Rearranging the Deck Chairs on the Titantic?

' Mike Kirby, head of research at Green Street Securities, a specialist in quoted real estate companies, says: “The CMBS [commercial mortgage-backed securities] market for the most part is shut down and dysfunctional right now. Banks still have an enormous amount of paper on their books from six months ago when lending standards were much looser.” '