Chris Whalen delivered a new terrifying presentation last Friday at the Darden Business School (via Wall St. Cheat Sheet).
The head of Institutional Risk Analytics has been in the spotlight recently for his comments on the coming foreclosure crisis.
Whalen’s new presentation repeats predictions his dire warnings. This time he gives investment advice: bet on a short list of strong banks that will make a killing buying up failed banks and trouble assets.
The financial crisis is about to enter stage three -- when toxic assets blow up and take down the largest banks
The mortgage industry has driven rates so high that people can't refinance -- so there's no way to get rid of bad mortgages
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