Chris Whalen: Bank Bailouts 2.0 Is Coming - All Major U.S. Banks Will Need Restructuring, Government Receivership

Audio:  The best banking analyst on the planet Chris Whalen

He's completely serious. Time frame is 12-24 months.  Listen to the first 5 minutes.  All due to a new massive wave of foreclosures.  Whalen expects something similar to the European banking model with heavy government ownership and involvement.

• Click to hear the interview at King World News

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Geithner and Summers are repeatedly mentioned for their failures.

• We're Only 1/4 Thru The Housing Crisis

• 1 In 5 Properties Will End Up In Foreclosure

• Bank of America, Citigroup, Wells Fargo, JPMorgan are in trouble

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He's completely serious. Time frame is 12-24 months.  Listen to the first 5 minutes.

Comments

[DailyBail]

this is a pretty bold statement from whalen..i bet he's right but wrong on the time frame...this will get extended 3-4 years before they do something...that's my guess knowing our politicians...extend and pretend mf**kers...

[Z]

Jim Rogers has been saying this from the get-go.

[DailyBail]

yes...and so has whalen...though i haven't heard chris say this publicly in a while...the difference is that whalen is a banking analyst and jim rogers is not...rogers says a lot of things...with vague timeframes...don't get me wrong, i'm a big jim rogers fan but his word doesn't have the weight in the banking world that whalen's carries...

[Z]

Jim Rogers also predicted the riots in Europe and the collapse of Eastern Europe.

He also has predicted that it is going to get worse in the United States leading to civil unrest.

This interview is from early 2009...

I like this video because Jim Rogers talks about the accounting fraud and how nobody has gone to jail...

http://www.youtube.com/watch?v=aSbqO3pQ77k

The screwed up fundamentals is just delaying the day of reckoning...when that day comes...

[DailyBail]

More Foreclosure Mess Updates: 20% of Florida Cases Have Problems, Including Phony Court Summons; JP Morgan ‘Fesses Up to GMAC Type Problems

http://www.nakedcapitalism.com/2010/09/more-foreclosure-mess-updates-20-of-florida-cases-have-problems-including-phony-court-summons-jp-morgan-fesses-up-to-gmac-type-problems.html

Are you following this story...

[Z]

I see your point about the timeframes but Jim Rogers has never claimed to be a "short term" market prognosticator. Most of his original predictions came in late 2008 and early 2009 and he seemed to always say that it will happen in two three four years down the line. We both know the story, delay delay delay, the straw that will break the camel's back is hard to predict.

I am with you on this great post tonight, just like your Nenner post. He was saying 12 to 24 months to Dow hitting 5000. I think that it won’t happen in a day. It will start and then just get ugly for months until the bottom which will be pretty clear to everyone.

[Z]

Yes...

http://www.reuters.com/article/idUSTRE68N33220100928

[DailyBail]

yes i saw that yesterday...no way the owners of MBS allow it to happen...banks and hedge funds

[Z]

Obama sure can spend...

NASA administrator Charles Bolden Jr. said the bill, which approves more than $58 billion in spending over the next three years, would foster the president's goals of extending the life of the space station, launching a commercial space transportation industry, fostering new technology and creating thousands of new jobs.

http://news.yahoo.com/s/ap/20100930/ap_on_go_co/us_congress_nasa

Here is the only mention of the moon...It dismantles the Constellation program under which former President George W. Bush sought to return astronauts to the moon...

SO, another $58 billion AND we are no closer to the moon.

At least we have Lockhead Martin...http://www.lockheedmartin.com/products/LunarProspector/index.html

It's all so exciting, their might be water on the moon. God knows water on the moon is well worth putting us deeper into debt.

[DailyBail]

John Taylor On Why TARP II Will Follow Promptly After QE II

http://www.zerohedge.com/article/john-taylor-why-tarp-ii-will-follow-promptly-after-qe-ii

[Sell Short]

if i see TARP one more time im gonna puke!

Santa Monica is good mr Daily Bail, we all miss you here.

[DailyBail]

TARP is all over the news sell short...but that's why we're here...to provide some truth against the bull shit flowing everywhere else...

[DailyBail]

And my apologies for no stories so far today...i had internet issues all morning...until just about 20 minutes ago...and i have a dinner tonight so i've got about an hour and then i won't be back around until 9 pm est. or so...