Breaking: US Banks and Commercial Property Debt Create Crisis

Charlie Munger has warned of a brewing storm in the US commercial property market, with American banks “full of” what he said were “bad loans” as property prices fall. The comments from the 99-year-old investor and sidekick to billionaire Warren Buffett come as turmoil ripples through the country’s financial system, which is reckoning with a potential commercial property<www.ft.com/commercial-property> crash following a handful of bank failures.