There is a lot of merit to what @barrysternlich1 says. Worth a listen.
There is a lot of merit to what @barrysternlich1 says. Worth a listen.
@BillAckman @barrysternlich1 why don't you call for them to be fired?
@BillAckman @barrysternlich1 Notice the guys crying loudest about higher rates are RE and VC owners. They're talking their books. It's short term thinking.
@BillAckman @barrysternlich1 A case study in incentives and rhetoric! High interest rates are sinking the price of their assets (equities and RE). Their RE balance sheet (especially CRE) is not dissimilar to the banks (long-term semi-fixed cash flows funded by shorter duration floating debt from banks) 1/3
@BillAckman @barrysternlich1 The banks chose not to hedge. That was their choice. How is that anyone’s fault but theirs?
@BillAckman @barrysternlich1 We should be focusing on the fiscal side. Powell is willing to do what is right. Whilst the government’s deficit keeps increasing, no one says anything.
@BillAckman @barrysternlich1 Bill, it would be great to connect, we have been interacting quite a bit on Twitter! We agree with your view that the only solution for the regional bank crisis is a full backstop. Cost of equity/debt for regional banks is already set to skyrocket, something most be done ASAP.
@BillAckman @barrysternlich1 Thought it was Biden for a second...