Fifteen percent of American card holders are now ninety days past due, eight percent are defaulting on their home loans and seven percent on their car loans, and veteran floor trader Todd "Bubba" Horwitz says the banks are heading back toward the bailout window while zero down and stated income lending quietly returns. In the same week, David Hay revealed that a prestigious private credit portfolio was marked down from one hundred to eighty one overnight, the thirty year Treasury yield broke five point one eight percent as foreign central banks step away, and Hay argued that in the next crisis the United States Treasury will start buying stocks outright.

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0:00 Fifteen Percent Are Ninety Days Late
1:00 Bubba Horwitz: Banks Are Heading Back to Bailouts
2:26 A Word From Me
3:01 A Credit Fund Written Down Nineteen Points Overnight
4:22 The Spread That Pays Only the Banks
5:34 Seventy Thousand Income, Five Hundred Ten Thousand Home
6:19 The Thirty Year Breaks and the Treasury Buys Stocks
8:19 Final