PacWest, the 5th bank to possibly collapse in the last 4 months, is currently trying to find a bailout. After it's stock took a massive 52% loss today. It appears to be the next bank to collapse or on the verge of collapse. This is only the beginning, as more banks fall it will add pressure to a system well overdue for a correction. At the current rate we will exceed 2007 and 2008 bank closers.
Add current Auto Repos and housing foreclosures it is starting to look like 2008-2009 all over again. What are your thoughts?
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