The default rate on credit card loans from small banks just hit a record high of 7.5%.
— The Kobeissi Letter (@KobeissiLetter) September 10, 2023
This is well above the 2001 high of 6.0% and 2008 high of 5.6%.
Meanwhile, these same small lenders have exposure to 70% of commercial real estate loans in the US.
~$1.5 trillion of these… pic.twitter.com/5SBoWIxH6o
The MEDIA crunch is ON!!
https://www.dailymail.co.uk/media/article-15740281/disney-conde-layoffs-vogue-samantha-barry.html