Home > Main > How to spot a Banking Paradox: This post is untrue

How to spot a Banking Paradox: This post is untrue

December 28, 2010

This guy says the banking industry has already paid the piper:

The Worst Is Over And The Full Bill Has Already Been Paid By The Banks

But then I look at the second lein information posted by Mike Konczal and see that the banks likely have hundreds of billions of second lein loans they haven’t written down.  And then I see that there is a huge shadow inventory of homes.  And then I see that the robo-signing scandal is getting worse by the day – and the put-backs will result in the banks being insolvent.

I am no Reggie Middleton, but if all of these posts are true, something strange must have happened to the ordinal numbers over the holiday break.  I should wait for the other parts of the “Worst is Over” write up to see all of his numbers, but I will go out on a limb here: The banks are bankrupt and will be nationalized in 2011.

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