Yeah. The thing is, we were being told that was a problem in late 2004 (this is when Max Keiser was writing and talking about the risks to Fannie Mae and Freddie Mac; he and others saying this were written off as cranks, even though they laid out a pretty solid scenario that came substantially true.)

So yes, Oracle is likely a canary in the coal mine.

It can only really be seen as an indicator of hidden risks to the banks from exposure to the SPVs.

But how long it will take before the miners start dropping dead from the fumes, who knows. Could be years, could be a few weeks after the Anthropic IPO when people are sitting smoking on the steps to the helipad saying "what the fuck? No I mean, really, really. What the fuck!"

Funny cause I also feel that a failed Anthropic IPO can trigger the domino effect. And I also t Feel this is why them and Open ai postpone so much. And shows how smart Musk was with rushing his IPO.