buttlefish on Nostr: This "It's not a bailout" chat. If you're lending against par value and ignoring ...

This "It's not a bailout" chat. If you're lending against par value and ignoring market value, that's a bailout in my books.

Like if your property plummets and you breach LTV and the Bank says "Don't worry, we'll just mark your covenants against the purchase price and forget the market price. It'll get back there eventually."