FDIC Friday - and another bank was taken over by the FDIC. The number so far is relatively small - because the bad mortgages are not in the banks. (The bad mortgages were sold to the securitisation market as this blog has made clear several times.)
Anyway this bank collapsed due to commercial real estate. That matters as the CR loans are in regional banks.
Calculated risk has a nice post observing that this collapse - whilst small - is probably going to be representative of this cycle. I have short positions in a few CRE exposed banks.
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