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Christopher Whalen makes a remarkably convincing case for why we’ve simply kicked the can down the road, and why the banks could be in for a repeat of their 2008 nightmares in 2011.
If Mr. Whalen is right, the banking sector is in for a whole new round of government intervention, takeovers, likely nationalizations, and general disaster:
The U.S. banking industry is entering a new period of crisis where operating costs are rising dramatically due to foreclosures and defaults. We are less than ¼ the way through...
More on the banks:
Banks are declaring war on savers
Top analyst Whitney: Massive financial layoffs are coming
This could be the worst quarter for the big banks since the financial crisis
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