"A Lot of Losses ... Investors Haven’t Seen Yet": Bank Bear Chris Whalen Sticks to His Guns

Tragically, DTT is spot on.

These people short the stock and then get free air time to trash the same stock that they shorted. It's unbelievable how screwed up this country become.

More boo. The economy may be sluggish but the underground economy is burgeoning as Americans adjust to the new realities. The 17% unemployed are swelling its ranks. If our total GDP has not reached 20 trillion it will next year. This explains why earnings are so amazing. And consumption and corporate revenues are growing. Sans financials. The unreported component of the economy will overtake the reported in a few years. The S&P500 will earn 60% of their revenues abroad next year thanks to the devalued dollar and global growth of 4.8%. We are entering an economic golden age.

whatever the economic situation is, banks that are big... JP Morgan, Citi, Wells Fargo and BoA will never run out of business or fail.

Banks are like casinos and even during wars, they propser because they are the heart and soul of a country's existence. Too big to fail, too fat to die and all those other cliches do apply.

So if I were you, buy bank STOCKS. You might lose your deposit but you will never lose your shareholdings in a big bank!

How many times does a guy have to be wrong before you turkeys stop inviting him to shoot his mouth off.

Why is it these bears see only the bad and never the good. When the good happens they all disappear never to be seen again until the next crisis. Disgusting people who only add to the problems.

No one with any intelligence posting here. Bye.

There I was thinking running double books was accounting fraud! >.

Once again! We see who the scourge is; who is the impediment to our recovery. I thought so and I've heard it before: the big banks DO NOT WANT TO REFINANCE LOANS; THEY WANT TO SEND PEOPLE INTO DEFAULT AND FORECLOSURE BECAUSE ITS MORE PROFITABLE FOR THEM! They caused the problems and are standing in the way of the solution. Are they friends of America or our enemy? Are they traitors to the American people? How much more of this are you people going to take? Why aren't people taking to the streets?

I ordered a book called "Griftopia" and am anxious to see what the author says although I probably suspected most of what's been going on. I recommend this book and some others like it. I think they will really open people's eyes.

The big banks got another gift in QEII, but it can't make them loan here. The banks make money on day to day operations, pay huge salaries to their execs and don't have to recognize losses thanks to doing away with "mark to markets." We have years of painfully slow growth ahead of us and no one can change that. The only thing that is going to happen is the Republicans are going to do away with extended benefits to the unemployed to force them to take minimum wage jobs if they can find them. Our living standard is going to take another big hit for the middle class. The rich, whom the government has already protected will continue to do well. The stock market should rise on overseas earnings and the bond market may fall apart world wide as governments and states can no longer pay their obligations. Watch out pensioners, the good days may be about to end. Watch out middle class, none of this bodes well for you.