Doug and Marv,
Hundreds of millions may be pocket money for Wall Street, but it is
free money (there is infinite leverage in that arbitrage game) so I am
sure they will not leave it on the table. This crisis is a solvency
crisis. Extended bank credit is contracting fast.
A recovery/green shoots propaganda is going on, but despite all these,
this depression is getting worse by the day. Watch the commercial
real estate market: the next earthquake will be epicentered there. And
the first collapse will be Tishman Speyer/Blackrock default in New
York on their $5.4 billion investment in Stuyvesant Town/ Peter Cooper
Village.
Just do a google search on Tishman Speyer.
Best,
Sabri
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