And I don’t think they are the best run bank, either. And nepotism runs rampant.

But they will be fine. Interest rates have risen so quickly that anyone doing term loans has the exact same balance sheet. And I expect a bond market correction as the economy tanks, which will reduce the unrealized losses in their investment portfolio.

And their securities are either marked held to maturity or available for sale. Most banks are holding them as held to maturity, so they don’t have to recognize the losses. Those losses would only be realized if they had to sell them for a liquidity event like SVB did. And SVB happened because they were so heavy onto one sector.

But what you are saying is valid. All banks could potentially become stressed with credit losses and then having to sell their investments to cover the liquidity needs.