I'm laughing so hard You actually believe this would cause chaos????? This will do absolutely nothing to the market. This bank could disappear this minute and wallstreet would give a fu*klkkkk
This is not 2007/2008. These days backstopping and billions will immediately ensue. Remember how SVB sparked a massive rally.
I skimmed through it, but the tip of the iceberg really didn persuade me to actually believe it's the tip of the iceberg. Maybe 27 yrs ago it would have, but in today's world not so much.
https://finance.yahoo.com/news/why-nyc-apartments-could-become-a-big-problem-for-nycb-173054691.html The regional bank’s biggest loan exposure is to apartments. Roughly half of that portfolio is tied to scores of multifamily complexes in the Big Apple where annual rent increases are regulated by the government.