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Barrack Says Borrowers Need a 'Time Out' to Prevent Mortgage Collapse

Mar.23 -- Real estate billionaire Tom Barrack, Colony Capital's chairman, founder and chief executive officer, sees defaults "across the board" in the U.S. commercial-mortgage market if banks and government don’t take prompt action to give borrowers a "momentary time out." He speaks with Bloomberg's Erik Schatzker on "Bloomberg Daybreak: Americas."