First time seeing? Sign up here October 21, 2025 | Read Online Morning,Washington is about to open the floodgates.New research from Alvarez & Marsal estimates that a planned rollback of post-2008 “Basel III endgame” capital rules by U.S. financial regulatory authorities, the framework that forced banks to hold more loss-absorbing equity, will unlock $2.6 trillion in new lending capacity and free nearly $140 billion in capital for Wall Street’s biggest lenders.The proposals would scale back...
9 days ago • 5 min read
First time seeing? Sign up here October 14, 2025 | Read Online Morning,Every cycle has its moment of euphoria, a period when policy, liquidity, and sentiment all point in the same direction, and capital flows as though gravity has been suspended. That moment is now approaching again. In Washington, the tone of regulation has shifted decisively. The planned rollback of post-2008 “Basel III endgame” capital rules – the very framework designed to prevent another financial crisis – will soon free...
16 days ago • 5 min read
First time seeing? Sign up here October 8, 2025 | Read Online Morning,Real estate sponsors should care about the recent private equity Executive Order (EO) because it signals how capital markets are shifting – and what investors will be seeing next. On August 7, after lobbying by private equity mega-firms like Blackstone, KKR, Apollo, and Carlyle, the White House signed an Executive Order directing regulators to “expand access to alternative investments” – including private equity, hedge...
22 days ago • 5 min read
First time seeing? Sign up here October 1, 2025 | Read Online Morning,Two major bankruptcies last month, Tricolor, the subprime auto lender, and First Brands, the auto-parts maker, exposed how hidden leverage can ripple through credit markets. Read more about that here >> Contagion is building, volatility is the new constant, and with a government shutdown underway, investors are becoming more selective. This is where my work comes in: I advise best-in-class sponsors on capital formation and...
29 days ago • 5 min read
First time seeing? Sign up here September 25, 2025 | Read Online Morning,The Bureau of Labor Statistic (BLS) was thrust into the public spotlight when POTUS dismissed Commissioner Erika McEntarfer amid allegations of manipulating data to make the economy look weaker than it is. Suddenly, everyone seemed to have an opinion on the BLS, an agency usually little known outside analyst circles. I thought it timely to dig deeper, both because the Fed relies heavily on BLS data in its decision-making...
about 1 month ago • 6 min read
First time seeing? Sign up here September 22, 2025 | Read Online I've been asked to help with a non-performing loan divestment by a major bank. The loan is secured by a high density, NoCal location land parcel with the following highlights (rounded numbers): Fully entitled mixed use development 200 residential units, 20,000 sf of commercial 50 for sale homes 20,000 sf retail Loan balance $10MM Recently appraised at $20MM+ Personal guarantee on the loan. Bank will provide 75% LTC debt at...
about 1 month ago • 4 min read
First time seeing? Sign up here September 16, 2025 | Read Online A “broker’s opinion of value” (BOV) is a professional estimate of value, typically requested by a lender when they need to assess an asset without the expense or time required for a formal appraisal. They’re usually called for when a bank has a problem loan - one that’s overdue on payments and at risk of being marked on the books as a bad loan (after 90 days of delinquency). My podcast guest today, Reid Bennett, national council...
about 1 month ago • 6 min read
First time seeing? Sign up here September 9, 2025 | Read Online Morning, I’ve made my Hollywood debut, starring (ok, cameoing) in Netflix’s new docudrama 'Titans, The Rise of Wall Street.' So going forward: -> I don’t get out of bed for less than seven figures. -> If you want to do lunch, have your people call my people. -> Autographs will be signed only if accompanied by term sheets. In all seriousness, it was fun to contribute a small piece to a show about finance history. And it's an...
about 2 months ago • 5 min read
First time seeing? Sign up here August 20, 2025 | Read Online Morning, The upcoming small group private capital raising training is now fully subscribed so I am taking a poll to see if anyone would like to join a second group. Here's more info. Let me know if you'd like to join us. Best,Adam Learn more *** [Podcast] Guest: Guest: Mark Hamrick, Washington Bureau Chief, Senior Economic Analyst, Bankrate.comThe Signal Beneath the Noise Serious operators obsess over the next print, but my...
2 months ago • 5 min read