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US Bank Counterparty Risk Soars After Energy MTM Debacle

US Bank Counterparty Risk Soars After Energy MTM Debacle

A few dots are starting to be connected now that we have exposed the debacle of The Fed's decision to allow banks to mark-to-unicorn their energy loans. "Something" was wrong in recent weeks as the TED-Spread surged (implying rising counterparty uncertainty among banks) and then the last week - since The Fed's alleged meeting with banks - has seen financial credit and stocks crash.