I bought PACW and First Republic Bank stock. So far the gamble is paying off. I didn't think the government would let them fail, but looking into these banks, it's kinda dicey, they're fucked if the real estate market nose dives. A lot of local and regional banks will be. And it's looking like real estate is nose diving.
The value of the properties the bank owns underpins the whole thing.
I think we're heading to another banking bailout.
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