Calculated Risk's superstar "Jim the Realtor" contributes evidence of the reporting over the last months of the failure of the high-end in real estate and the continuing risk and worse to the big banks. The horse farm below rises to a multi-million dollar fiasco of high-end homes above, the whole development now foreclosed and back in Well Fargo's non-performing loans hamper. This connects to the warning from the Congressional Oversight Panel (Elizabeth Warren is a gifted brain) that banks-not-to-big-to-fail are not getting help with their non-performers.  See the Colonial failure in Georgia this weekend.  TARP is for the bad sausage of MBOs, not for fairy tale flops like the above. WF is stuck. Mark down 50-70%? Long way to fall. No California recovery in sight.  Obama administration in denial of denial.