As a commercial real estate watcher, it's something I'm watching kind of avidly. The fact that the FDIC brought in Newmark already means that nobody was exactly chomping at the bid to pick these loans up. What we're looking for is, are they going to get sold at a discount? Is that going to set a new normal? Are we going to see something that makes us feel pessimistic? That would be a sign of health and make us feel really optimistic.

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