Banks shouldn’t have a ton of this stuff on their balance sheets because of post ‘08 changes. The more likely parties to be damaged are asset managers.
> Banks shouldn’t have a ton of this stuff on their balance sheets
I don't understand what you mean - banks issue millions and millions of mortages.
But they don't keep the mortgages. They sell most or all of them.
Correct, they package them up in CDOs and sell them off.