The last week saw a major plunge in shares of New York Community Bancorp after the company revealed challenges in its lending to multi-family residential developers. So what went wrong at this bank? And what does it say about this particular market? On this episode we speak with Quantierra CEO Ben Carlos Thypin, a New York City landlord and investor, about the bank's large role within NYC's rent-stabilized housing market. Over the last year, Ben has advised funds to short NYCB based on its exposure to this complex corner of real estate. He explains how NYCB's position, combined with market and regulatory changes to the city's housing market, contributed to the strains.
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Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets.
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