Geithner Says Commercial Real Estate Woes Won’t Spark Crisis - Bloomberg.com

In remarks to the Economic Club of Chicago, Geithner said commercial real estate woes won't set off a new banking crisis. "That's a problem the economy can manage through even though it's going to be still exceptionally difficult." The global economy has accelerated since the worst of the recession and banking crisis last year, and Commerce Dept. reports show the economy expanded 3.5 percent in the third quarter. "You can say now with confidence that the financial system is stable, the economy is stabilized," Geithner said. "You can see the first signs of growth here and around the world."