Predicting the Next Banking Crisis Is a Fool’s Game. Not Learning From the Last One: Equally Foolish
Jeff For Banks
JUNE 2, 2023
Economists cite as the main culprit the collapse of the subprime mortgage market — defaults on high-risk housing loans — which led to a credit crunch in the global banking system and a precipitous drop in bank lending. M&T assumed their $411 million of loans and securities with a $289 million FDIC loss-share agreement.
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