Aidan Donnelly

Yeah, the market got a bit of a wobble yesterday on the back of this.

Basically, shares in regional banks fell yesterday because two lenders disclosed that they were exposed to fraud by borrowers.

And this is naturally, again, markets are at all-time highs and people are looking for reasons to take profits and get out.

And they want to see if there's anything happening here.

And

What they basically said is there was disclosures by Western Alliance Bank and Zion Bank that basically come on the back of the first brands, the car parts maker that went bust and burnt an awful lot of credit investors.

Look, I think when you look at it, in the case of Zion Bank, it was a $50 million fraud, but a billion market cap has been written off the stock yesterday.

So, look, it certainly should have a reaction, there's no doubt about it, but it's a question of size.

And I'm not sure, and certainly at this stage, it's very early to be saying,

that this is a systemic issue.

It looks as if right now it's just an issue between the two banks.

And I think the other thing, too, to bear in mind is relative to the global financial crisis, all of the banks are in significantly better capital positions than they were back then because of the intense increase in regulation over that period.

No, listen, I do.

I'm a home cook.

I love the home cooking.