So…rotted from the inside out?
In response Age of Enlightenment to her Publication
ZERO!... nada.. neit... NOT one bank (or S&L) defaulted!!! knock it off!
yes, a few banks have been "taken over" and some marketable assets, have been liquidated at a lower price, causing a (short-term) kink in the yield curve.
if ya' know - ya' know -- but I do not see that here.