https://x.com/MauiBoyMacro/status/1963240079658561889
i'm tired, too tired to read it, but i likely don't need to as it involves Commercial Real Estate. amirite?
they been hiding those losses on the books. that subject had gotten quite again hadn't it?
that or all the long term treasuries many large banks were "encouraged" to buy last go around to prop things up nice and easy; but now fhey are terribly underwater on them and were they to face a run -- silicon valley bank style --- we are in 2008 again but on steroids and no rainy day fund to bail us out.
EOT