School me on investing...

The missus works for a financial entity that has two main lines of specialty: Commercial real estate, and last chance GPS-integrated-to-the-ignition car loans.

We've battened down the hatches and polished up her resume.

 

Ugh. That doesnt sound good at all. Tell her good luck in her search.

 

Thanks. At our age it's tougher no matter the resume. We will be fine. Unlike the aforementioned institutions, we account for hiccups in income. If worst comes to worst, I can go get a real job. Don't really want to, though.

 

Can she scoop poop? Maybe she can sleep her way into this growth industry....

 

She actually likes coming with me, and has handled more than a few outlier customers when I had my own business. Since I sold out and went to work for the big fish, she doesn't do that anymore.

 

Well, if the women don't find you handsome, they should at least find you handy.

 

Beat me to it.

 

PacWest burning to the ground. Which govt backed big fish will buy it?

 

Can't find who in here, but if you own ET, did you get your dividend last week? Mine did not hit my account at all. It was due on the 5th.

 

8th was the ex-dividend date. It will be paid on the 22nd.

https://finance.yahoo.com/news/energy-transfer-announces-increase-quarterly-201500482.html

 

Btw Mongo, Moloch is a game theoretic demon that applies to economics and capitalism. I probably should have clarified. That’s two bans that are…. dubious. I’m starting to think you’re looking for reasons to have me out of here

 

Does Moloch like donuts?

 

Don't be such a weak bitch. Let Mongo know how you really feel!

 

Sad that it falls to NPR to say the quiet part out loud.

https://www.npr.org/2023/05/16/1174...e-property-offices-work-from-home-remote-work

Anybody who has been paying attention can see that commercial real estate, specifically office space, is going to abso-freakin-lutely melt down. Couple that with toxic mortgage MBSs on the opposite end of the spectrum from 2008...you know... the ones with great credit faithfully paying their mortgages carrying 3 percent or less. Those MBSs are not viable holdings when banks have to pay 4 percent to lure depositors. The values of them need to be written down, reducing assets at the same time that people are worried about the FDIC being able to insure their deposits.

Almost looks like this was set up on purpose for some reason...

 

NPR is far from the first with that prognostication. The question isn't whether banks will fail because of this, but how many and how soon.

It might be just a handful, it could be a few at a time over a long period, or it might be a tsunami. The good news is on these is they shouldn't be like the first couple of banks that failed this year due to liquidity issues. These banks and their regulators should have plenty of time to see it coming and do an orderly sale of the assets without stressing the FDIC.

 

Hey, I said "should" not "would". Seriously, many of these will be cleaner than the first couple this year. Already proving out as First Republic was not nearly as ugly as the first two.

 

You suffer under the illusion that these smaller banks haven’t already been divvied up amongst the leviathans and the days of reckoning are scheduled…

 

I swear every American suffers from Alzheimer's when it comes to the stupid shit we've seen happen in the past. Oh..they learned from last time and it could never happen again.