Charlie Munger: US banks are "infested" with bad commercial real estate loans.

On May 1st, according to BlockBeats news, Charlie Munger, vice chairman of Berkshire Hathaway, warned that the US commercial real estate market is brewing a storm, with real estate prices falling and US banks "flooded" with what he called "bad loans". In an interview with the Financial Times, he said, "It's not as bad as it was in 2008. But the banking industry will also have problems, just like elsewhere. In good times, you develop bad habits...when bad times come, they will lose too much."