Back in the 2008 housing crisis I saw a similar thing. Builders were piling all their shit debt onto a single lot they were never going to develop and letting the banks keep it.
If you knew that you could take yuge business risks and make a shitton of money, and be guaranteed not to fail, what would you do?
Banks, unfortunately, need to feel the pain for things to go back to 'normal'. Otherwise, this is just a fed takeover of the banking system.
How can we fight it off? We're fuckin boned.
Is that over $2.3T? What am I looking at here? Not a financefag.
There's is no cash.