The Problem With the Non-Recourse Mortgage Loan

80% of commercial real estate is held by small and regional banks. They're saying, okay, we have to walk away from this real estate out in San Francisco or whatever. On the other hand, they're raising a new fund over here. So they're just getting ready to swoop in and buy the impaired assets that they walked away from. It's nuts. And they're allowed to do it. I mean, you know, what happens? At what point does the Fed say, okay, well, enough is enough?"

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