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![tyillc Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::255781485.png) Richard Field [@tyillc](/creator/twitter/tyillc) on x 11K followers
Created: 2025-07-21 22:11:44 UTC

Excuse, but the issue always was everyone knew the banks were holding losses, but what they didn't know due to opacity was the extent of the losses at each individual bank.

When no bank would step up to take on LEH, Wall Street sent the message the losses at every bank from marking their exposures to market rendered them insolvent ...


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**Related Topics**
[marking](/topic/marking)
[wall street](/topic/wall-street)
[losses](/topic/losses)

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