Almost 90 percent of NYC bars and restaurants couldn’t pay August rent

Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by jojobas on Tuesday September 22, 2020 @12:37AM (#24550889)

Would you also bail out those who bet on black and got red?

When you bail out something like Ford you keep it running and collect tax revenue. If you don't, factories stop and the business essentially disappears.

When a landlord goes bust nothing happens, other the financial loss for the landlord.

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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by refurb on Tuesday September 22, 2020 @02:10AM (#24551428)

When a landlord goes bust nothing happens, other the financial loss for the landlord.

It's like the old saying "when you own the $10,000, that's your problem", "when you own the bank $1B, that's the banks problem".

When 1/3 of NYC commercial real estate gets foreclosed, that's not just the landlord's problem, that's everyone's problem.

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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by jojobas on Tuesday September 22, 2020 @02:59AM (#24551708)

When 1/3 of NYC gets foreclosed the new tenants will swarm to rent the places at a discount and reopen the cafes and everything else as soon as they're allowed to operate.

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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by refurb on Tuesday September 22, 2020 @01:34PM (#24557444)

Simple! Just like 2008. No knock on effects at all.

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Re:Almost 90 percent of NYC bars and restaurants couldn’t pa... by jojobas on Tuesday September 22, 2020 @06:57PM (#24560994)

Is NY commercial real estate a foundation for another CDS scam? You borrow money to make a bet, you face the consequences.

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