Small banks are hiding massive losses in CRE. Massive, like going out of business levels of losses; Tom Lee said he thinks Financials will be one of the sectors leading over the next 1-2 years
Are office buildings the last prop holding banks from imploding? Small banks are hiding massive losses in CRE. Massive, like going out of business levels of losses. That's why they're kicking the can hoping they don't have to foreclose. There's nothing to foreclose on. This shit would make Lehman look like a walk in the …