Are Americans finally figuring it out as they’re paying down their credit cards by record amounts? So far, $25 billion a year in lost interest income for the banks!
Forbearance Effect: Serious delinquencies of mortgages & student loans plunge to record lows because delinquent loans in forbearance don’t count as delinquent.
Banks, as prime brokers and counterparties to the hedge fund, are eating multi-billion-dollar losses as they try to get out of these secretive stock derivative positions.
