Southern Command headquarters in Miami, Florida, where she'll meet with the USSOUTHCOM Commander General Laura Richardson and senior staff to discuss implementation of the National Defense Strategy and strategic threats, to include the impact of climate change on national and regional security. A full readout will be posted to following the meeting.Īlso tomorrow, Deputy Secretary of Defense Hicks will travel to U.S. The leaders are expected to discuss a variety of topics, to include Italy's expansive contributions to the international security as a security provider in the Balkans, Europe's Eastern Flank, Lebanon, Iraq, and Africa, as well as Italy's newest naval deployment to the Indo-Pacific. In other news, Secretary Austin will welcome Italy's Minister of Defense Guido Crosetto here at the Pentagon tomorrow. Thanks to their diligence and dedicated efforts, DPAA successfully accounted for 166 missing service members over the last fiscal year, bringing important closure to many families and enabling us to pay proper tribute to fallen American warriors. This year, National POW/MIA Recognition Day will fall on September 15th.įrom conflicts dating back to World War II, there are still nearly 82,000 Americans who remain unaccounted for. The posters are an annual tradition and a visual representation of the DOD's efforts for the fullest possible accounting of Americans still missing from past conflicts. The Secretary's been looking forward to these engagements, especially following his recent trip to India, where the United States and India established an ambitious new roadmap for defense industrial cooperation.Īs Secretary Austin said while he was in India, the U.S.-India partnership is a cornerstone of a free and open Indo-Pacific and our deepening bonds show how technological innovation and growing military cooperation between two great powers can be a force for global good.Īlso today, the Defense POW/MIA Accounting Agency, or DPAA, unveiled the 2023 POW/MIA Recognition Day poster in the POW/MIA Corridor here at the Pentagon. This morning, at the bilateral meeting with President Biden and Prime Minister Modi, Secretary Austin shared perspectives on the tremendous strides both countries' militaries have made to promote peace and security.Īnd Secretary Austin is scheduled to attend the state dinner to celebrate over 75 years of deepening partnership between the United States and India and the bonds that link our peoples together. A few things at the top, and then we'll get right to your questions. A rolling loan, they said, gathers no loss.BRIGADIER GENERAL PAT RYDER: Good afternoon, everyone. They called it “ extend and pretend,” and it worked so well that when Covid-19 brought the global economy to a halt in March 2020, they turned to it again. Faced with delinquent loan payments, lenders decided to be patient: Instead of foreclosing on properties whose value was plummeting, they lengthened loan terms and ignored short-term valuations. It’s not that the market participants had forgotten the lessons of the global financial crisis that followed the 2000s boom. An after-party at Cipriani was “an absolute zoo,” says Toby Cobb, a managing partner at lender 3650 REIT, as if the industry were operating at peaks last seen in 2006. Yet many conferencegoers were upbeat, trading notes on a surprisingly resilient economy and the media’s tendency to exaggerate the challenges. And loans made during the mid-pandemic go-go days, when the world was high on government stimulus money, needed fixing. Commercial property transactions were stalled, squelching demand for new loans. The high chieftains of real estate finance flocked to the Marriott Marquis in New York’s Times Square in June at a precarious moment for their business.
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