Bank Crisis Coming, Market Will Suffer.
Seeking Alpha Analyst Since 2011
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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