Bank Crisis Coming, Market Will Suffer.

May 05, 2011 1:41 AM ETC, BAC

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Seeking Alpha Analyst Since 2011

Jeff Life Jeff Life graduated in 1990 with a B.A. in Political Science from Florida Atlantic University in Boca Raton, Florida. While working in the International Business Center at the University of Miami as a research assistant for Dr. Robert Gross, Jeff performed research on many projects in Business and Economics and helped to edit various books that were published by the Center. Also, he managed to organize many seminars for foreign and domestic leaders of multinational corporations. Jeff became an expert in compiling, formulating and applying data in various economic models to come up with proven and developed theories in business practices and Economics. Jeff served as consultant for a project joint venture between USAID and Price Waterhouse in privatization of small-scale businesses in the newly developing market economies in Russia and the Newly Independent States of the former Soviet Union, and graduated with a 3.875 grade point average earning him a Master’s Degree from University of Miami in International Studies with concentration in International Business & Economics. With his keen eye for business, Jeff provided his services as a consultant in debt resolution management for various corporations such as, IBM, Colgate Palmolive and Levi Strauss, among others. His knowledge and experience afforded him a position of finance management working as a Finance Director for various auto franchises, negotiating loan terms with financial institutions and along the way accumulating 15 years of experience of working with lending companies and the banking industry. Jeff became a fully licensed mortgage broker in the state of Florida in 2006, and worked with a branch of the Bank of Commerce as Director of Mortgage Operations, and later as Director of Loss Mitigation for a federal housing assistance program. He has been doing loan modifications since 2008. In January of 2009 he founded Federal Home Mortgage Assistance in order to help the South Florida community deal with the financial and economic difficulties that have been brought on by the global financial crisis, bringing resolution and relief hundreds of families.

Without getting too much into the financial mess that we are still in, I want to warn all that we may be heading for a financial meltdown. Don't be fooled by the profits and the books. The mortgage crisis is far deeper that we think. And most of the loans on the books are bad loans that have been "swept under the carpet," hoping that one day they will just disappear.

Well reality will be hitting us shortly, the question is how long will these inexistent assets and % revenue going to be exposed and who will fall first. Who scare me the most are Bank of America and Citibank.

The Markets will not be affected by the type of bad economic data that we heard today, that was nothing compared to the skeletons in the closets in our financial sector.

Jeff The Genius

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