Comment: The bad loans

(See in situ)

The bad loans

are still there. The Federal Reserve bank now has them on their balance sheets in exchange for freshly printed money. Tell him the same guys who produced all of the bad loans are still in business and the Federal Government is preventing him from the opportunity to purchase these properties at fair market value. These loans will be dealt with at a later date
through a private/public financed auction that he will not be able to attend.