Sen. Robert Menendez pressed Treasury Secretary Timothy Geithner and Federal Reserve Board Chairman Ben Bernanke to focus more of their efforts on problems in the commercial real estate markets.

"The authorities did not heed my warning when I predicted a tsunami of residential foreclosures in March 2007," the New Jersey Democrat wrote in a letter dated Thursday. "I am now deeply concerned about a tsunami of commercial real estate foreclosures and what actions we are taking to avoid that."

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