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Foreclosures Poised to Take Down the U.S. Banking System� and even entire economy, says Whalen. (Ya� think?)

Written on 21 Dec, 2010 at 7:32

Foreclosures Poised to Take Down the U.S. Banking System� and even entire economy, says Whalen. (Ya� think?)

“Laurie Goodman of Amherst Securities predicts that 1 in 5 mortgages could go into foreclosure without radical action.” Now just a minute here… you’re not saying that one out of five people with mortgages are “irresponsible sub-prime borrowers who never... (Continue reading)

Tagged with: bank of america banks insolvent Chris Whalen CNBC core logic diana olick economy Fannie Mae FDIC Chair Sheila Bair Federal Reserve Chairman Ben Bernanke FHFA firedog lake foreclosure crisis Freddie Mac G20 HAMP Hank Paulson Hope-4-Homeowners Institutional Risk Analytics john Taylor Laurie Goodman of Amherst Securities mandelman mandelman matters martin andelman max gardner ml-implode NACA National Community Reinvestment Coalition O. Max Gardner III obama administration Obama's Making Home Affordable Plan recession REST Report Sen. Ted Kaufman shame the banks Small Business Lending Support stress tests sub-prime borrowers TARP Treasury Secretary Timothy Geithner U.S. banking industry wall street bonuses will the circle be unbroken

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