The Barn Burning - The New Piece by Chris Whalen

The U.S. is selling five nuclear submarines to Australia, a key ally in the South China Sea. Chris Whalen says Silicon Valley bank failed because it had 43% of its assets in mortgage-backed securities and that was what got them into trouble. The Fed's quantitative easing program has created liquidity risk for investors who are now coming to grips with how long they will have to wait before interest rates go up.