The KRE Is Only Down 5%. Should We Be Looking at Individual Banks?

There's a combination of concerns around where the bond market or the bonds of these individual banks are being marked up. I think if this were to continue, it's the market shifting from not just rate concerns, but also the credit that's embedded in all the loans that were done in the last couple of years. But at the same time though, if banks that are under concern, who's going to provide them new capital? If the capital has to come from some version of government support, then private investors are just not going to step up.