Chris Whalen: 'Elizabeth Warren Is A Nightmare For Banks'
Dec 19, 2012 at 2:46 AM
DailyBail in CNBC, bank of america, banks, banks, chris whalen, chris whalen, cnbc video, elizabeth warren, elizabeth warren, stock market

Banks still have a big foreclosure problem.

Whalen yesterday on CNBC's Fast Money.  Excellent discussion.

"If you were an investor, would you want to write a jumbo mortgage, say in Massachusetts, where you can't foreclose at all.  Politicians talking about comsumer protection (like Elizabeth Warren) are actually hurting consumers because now you can't get a mortgage."

"Banks don't even know what they're getting into.  California is now a minefield for banks.  You have to do judicial foreclosures in California after Jan. 1.  What does that mean?  More costs for the banks."

 

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