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Chris Whalen: New Bank Bailouts Under Dodd-Frank For Bank Of America, Wells Fargo Within 12 Months (VIDEO)

By Ilene
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Courtesy of The Daily Bail 

 

Editor’s Note: A look back at one of the best Whalen clips of 2010.

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Video:  Chris Whalen – AEI – Nov. 9, 2010

  • "2011 will be a year of massive pain and restructuring for big banks."

Brand new.  No other sites have found or posted this one.  Another first for DB readers.  Best clip I’ve seen this week.  Runs just 3 minutes.  Huge government restructuring and intervention is on the way.  Next year will be a killer.

  • "Foreclosures are going to overwhelm Bank of America and Wells Fargo."

You will hear that Lehman’s estate owns Whalen’s mortgage and they can’t legally foreclose.  Not due to the Lehman bankruptcy, instead because they never changed the record 7 years ago when they purchased the loan from Bank of New York.

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