Market Mad House

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche

Questionable Loan Pools

Market Insanity

The Most Dangerous Bank in America

“Having used government guaranteed deposits to, in my opinion, turn itself into a giant and highly levered junk bond fund, BOFI investors now have massive exposure (believed to represent roughly 150% of tangible equity) to opaque loan pools.”

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