This seems significant. This is like Defcon 2 for Banks or something.https://twitter.com/DeItaone/status/1281240783178420229 …
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Wouldn't mortgage defaults HELP a bank? They get real estate to resell. What am I missing?
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maybe it is over levered and illiquid and perhaps not supported by the administration, being a Californian bank. in general mortgage defaults will not help an overleveraged bank because real estate defaults and housing prices are highly correlated.
End of conversation
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