Steven

[Steven @steven2duong]

@olddog100ua 1) tank economy
2) blame tanked economy as left over from “frothy” previous Biden admin
3) set bar very low with tanked economy
4) show modest growth from low bar tanked economy by 2027
5) take credit for “recovery” from “disastrous” prior Biden admin

[Steven @steven2duong]

@PhilTimyan BFCC originally marked Mechanic's ECIP at 21% of cost and then wrote it up another $4.45mm to zero out the gain.

[Steven @steven2duong]

@MicrosoftTeams Thanks. Will reach out in DM.

[Steven @steven2duong]

@MSFT365Status We're still having major issues with Teams. Nothing resolved for us in the U.S.

[Steven @steven2duong]

@FidiumFiber No, I was able to reach someone via email. I suggest you update your phone system. I waited for 35 minutes in silence on the phone and finally gave up after receiving an email response.

And thank you for replying to this.

[Steven @steven2duong]

@Amtrak Ok thanks. You should not include that as an option IMO. Very confusing

[Steven @steven2duong]

@Amtrak I’m trying to book the train, not the bus. Please try yourself to book the train for morning of 8/8 POR to BOS

[Steven @steven2duong]

@Amtrak You really need to overhaul that chat support. It’s embarrassing TBH.
I’m trying to book 1 way ride POR to BOS and getting an error message on site. Is it not available?

[Steven @steven2duong]

@colarion It seems like consumer remains strong while commercial and CRE hemorrhage

[Steven @steven2duong]

@fiat_money @StephanieKelton Do you need lower and lower rates? Can they stay neutral? How about rising?

[Steven @steven2duong]

@EPBResearch @BlauGloriole Breaking down $100 ($000s) mortgage for purchase of house:
1) Creating loan: Dr loan $100, Cr deposit $100
2) Transferring funds to seller bank: Dr deposit $100, Cr reserve $100

Result:
Lending bank: Reserve down $100, loan up $100
Seller bank: Reserve up $100, dep up $100

[Steven @steven2duong]

@Paisonos @DanielAlpert Apparently so. The amount of deposit flight was 5x or so more than I expected.

[Conor Sen @conorsen]

14 million homeowners have mortgage rates below 3% and another 20 million have rates between 3-4%: https://t.co/SzHd9rBUVQ

[The Transcript @TheTranscript_]

$STWD CEO: "The federal government makes no mistake is leaning across all the banks, big and small, and saying reduce your exposure to the Office segment. I don’t know what they think is going to happen to a $3 trillion asset class but it will take down the banks"

[Steven @steven2duong]

@BobEUnlimited Comparing the 4/26 reading to the 3/8 lows for small banks, liquidity positions much better with funding mix shifted to wholesale. Implications for NIMs.

[Steven @steven2duong]

@profplum99 The spike in the time period you've chosen is from 9/3/08 to 10/15/08, which was when Lehman failed (9/15/08). Here's a full balance sheet comparison showing everything went up. I'm guessing the spike in loans is more of a reporting thing than actual credit extension.

[Steven @steven2duong]

@AswathDamodaran I think part of the problem is that years of QE created excess deposits and Basel III incentivized banks to put this excess liquidity into securities. This works if rates get lower and lower, which is unsustainable in the long run as you eventually hit the zero bound.