Frank Partnoy examines “The Looming Bank Collapse” in The Atlantic. The tagline is “The U.S. financial system could be on the cusp of a calamity. This time, we might not be able to save it.”
This time the poison is “collateralized loan obligations” or CLO’s and they don’t contain mortgages or default swaps. But they can be badly undermined by the collapse of so many “non essential” businesses as it is so difficult for any enterprise dependent on people coming together for large events or for rapid travel.
The latter part of the article goes into worst case scenarios, with some virus-like diagrams showing that most CLO’s have failed, undermining the values of (apparently) most bond funds (even those invested mainly in Triple-A’s).
Tyler Mowery, a screenwriting guru (April 3, 2020), also advocates bitcoin and digital currency as ultimately more stable given the upcoming crisis, and cites this thread by Public Citizen.