That is what is already been killing them. I don't think it is going to get worse for banks, I think Wall Street conduit lenders are in much worse shape. The loan to value ratios here were quite high and as the loans mature they will be 100% loan to value or more. These lenders will be forced to write these down, but they won't be able to refinance them because no investor will buy the paper. I think that when we look 3 years down the road banks will benefit from financing these properties at "right sized" values at rates that are more indicative of the risk. Stay tuned...