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Fantastic read as always

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What are your thoughts on MCB?

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So... did the tech bros who were borrowing money and re-depositing it at SVB get their loans disappeared when the bank collapsed, but then have their deposits guaranteed?

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btw they recently auctioned off Signature Bank's assets. other banks bought ~10bn of the real estate loans at a 20% discount. the rest of the real estate loans were deemed "toxic waste": https://twitter.com/AureliusValue/status/1638189704850857984

as for those "fund banking" loans? lol

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the loans haven't disappeared.... yet.

in other words: you get it

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