Steve Eisman

in history, hard stop.

It's never been even close to this well capitalized.

It also has never had as much liquidity on its balance sheets as it has today.

So I don't worry if there is a recession that there's a banking crisis, leaving Silicon Valley aside, which is a very, very unique kind of situation.

If we have a credit cycle, private credit could put the economy into recession.

And it'll be a garden, I think, a garden variety of recession.

People will lose, I mean, it's not going to be pleasant.

Nobody's going to be happy and say, oh, it's only just a recession.

No one's going to, you know, put candles on a birthday cake and say, how wonderful is this?

But it'll be a garden variety recession and the economy will slow.

People will lose jobs and eventually we'll come out of it.

But you're not going to – no one's going to be worried about JP Morgan or Citigroup or Wells Fargo or any of the banks.

It's just unimaginable to me at this point.

Oh, you think there's going to be more news?

Like maybe tomorrow.

Exactly.

I have to redo my rap.

Your rap.