First Republic's Asset Sale Shocks the Market

It's difficult to know right now. No bank really wants to be more of their peers and rivals failed because ultimately destabilizes the whole system. I guess at some point we'll see some interest, but it's unclear who's going to buy them right now. The fact that they're having to sell all these loan books finally lays out in the clear, it lays the open. This is a problem that we have, this is what we need to do, and this is how we're trying to solve it. And that's obviously shocked the market.