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: Mortgage Lender Implode-o-MeterHere's That Devastating Chris Whalen Report On The Coming Crisis For The Banks
By Implode-Explode Heavy Industries
Foreclosure-gate is just showing the cracks from a much bigger crisis coming next year, says Risk Analytic's Chris Whalen.
The real problem is the inability of banks to cover subprime losses, which have been hiding on balance sheets since the housing crash. Banks have only survived this long thanks to extremely beneficial Fed policy.
Full post as published by Mortgage Lender Implode-o-Meter on October 22, 2010 (boomark / email).
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