“ They’ll stretch accounting rules, invent new jargon, refinance the same corpse five different ways — anything to pretend it’s fine for one more quarter before reality shows up with a crowbar.”
Loan accounting for banks requires both general and specific reserves that must be reviewed quarterly. It also requires quarterly disclosure of nonperforming assets which incudes all delinquencies as well as impairment concerns. It doesn't sound like nonbanks are employing the GAAP accounting required for banks. American bank accounting while flawed, is by far the best in the world.
Whats Oaktree's exposure? Marks just put out a overview of First Brands and the cockroach commentary coined by Dimon. Guess all their sleuthing went to First Brands.
"This is NOT Vietnam Dude, there are rules!" - Another great post! As the credit markets collapse I'm ready with "You're about to enter a world of pain!"
Is this not the same industry which began hoovering real estate (the actual reason housing prices skyrocketed), businesses (to create monopolies), and now Trump let them into the retirement system because they saw their failure coming? That executive order was a veiled bail out for these scum bags. And now it’s happening. The government needs to stop subsidizing them and get rid of them by exercising the few powers they legitimately have: antitrust and monopoly.
Dickless cowards; don’t you think that’s a little harsh? Kidding, it’s perfect.
+30 days to your paid sub for that little gem
You stepped over the line.. Mark it zero dude.....hmmm.
You seem to be really focused these days my friend, swimming naked when the tide goes out will expose those without a wanker it seems. Getting close?
It's a league game, Raven.
“ They’ll stretch accounting rules, invent new jargon, refinance the same corpse five different ways — anything to pretend it’s fine for one more quarter before reality shows up with a crowbar.”
BOOM!!!
Nice work Chris!!!👌
Loan accounting for banks requires both general and specific reserves that must be reviewed quarterly. It also requires quarterly disclosure of nonperforming assets which incudes all delinquencies as well as impairment concerns. It doesn't sound like nonbanks are employing the GAAP accounting required for banks. American bank accounting while flawed, is by far the best in the world.
your I told you so moment is close
Here's another private kleptocratic goodie..
https://x.com/WallStreetApes/status/1987725418045317434?t=TBo9A2R6XcTFEjBRQYl-SQ&s=19
Im trying to find your podcast on Spotify. I am not finding it. Am I just missing something or is it not available on Spotify anymore? Thank you
Whats Oaktree's exposure? Marks just put out a overview of First Brands and the cockroach commentary coined by Dimon. Guess all their sleuthing went to First Brands.
"This is NOT Vietnam Dude, there are rules!" - Another great post! As the credit markets collapse I'm ready with "You're about to enter a world of pain!"
Is this not the same industry which began hoovering real estate (the actual reason housing prices skyrocketed), businesses (to create monopolies), and now Trump let them into the retirement system because they saw their failure coming? That executive order was a veiled bail out for these scum bags. And now it’s happening. The government needs to stop subsidizing them and get rid of them by exercising the few powers they legitimately have: antitrust and monopoly.
I love the title and Big Lebowski reference.
Being dumb today, what's 'KRE' at the end of this excellent essay?
The symbol for a regional bank ETF sponsored by State Street Global.
50 Shades of Gr..... The Big Short