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news@hexbear.netEnglish · 8 months ago

JPMorgan Chase and Bank of America Suffer $4,500,000,000 in Losses As 'Unrecoverable Debt' Soars: Report - The Daily Hodl

cross-posted to:
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JPMorgan Chase and Bank of America Suffer $4,500,000,000 in Losses As 'Unrecoverable Debt' Soars: Report - The Daily Hodl

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news@hexbear.netEnglish · 8 months ago

cross-posted to:
us_news@lemmygrad.ml
usa

The two largest banks in the US say they expect to lose a collective $4.5 billion from customers who are essentially unable to pay their bills.

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ProfessorAdonisCnut [he/him]@hexbear.net
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8 months ago
It’s okay, we can guard against this by bundling large amounts of high risk debts and use them to back securities

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