We Speak on BNN About Banks, Housing Outlook Posted on December 12, 2010 by Yves Smith We followed Chris Whalen, who gave a pretty apocalyptic prognosis for 2011. You can view the segment here. Enjoy! Post navigation ← Satyajit Das: The Past, The Present and an “Unusually Uncertain” Future Links 12/12/10 → Subscribe to Post Comments 10 comments robert de lapeyrouse December 12, 2010 at 6:44 am I cannot tell you enough how lucid and well-founded your comments are; bravo Chris LaHaie December 12, 2010 at 8:19 am Loved this interview Yves. You articulated the issues with amazing clarity. I also wanted to compliment you regarding your style of promotion for your book. I watched the Walen interview and he referenced his book several times during his spot on the show. My opinion that answering the questions so well as you did without trying to sell your book made for much better marketing. Walen’s first concern seemed to be plugging his book and his second concern was the interview. I thought it made him look desperate to sell books. Keenan December 12, 2010 at 10:05 am Most excellently done, Yves. Your use of the words “hocus pocus” perfectly describes the ongoing game that Fed / Treasury are running in collusion with the bankers. America continues to be Econned by these deceivers. Cedric Regula December 12, 2010 at 1:06 pm I’m happy to announce I finally started to read Ives book. I must confess I took it out at the library, but my ZIRP income is forcing me to become even more of a cheapskate than usual. But maybe I’ll get a Amazon gift certificate for Christmas so I can buy my own copy. Only made it thru Chapter 3 so far, but it is confirming what I new already…economics is a bunch of crap…and I’m sure I’ll learn some new stuff as I progress thru the rest of the book. anon48 December 12, 2010 at 1:55 pm Nice job. Succinct, clear and matter of fact. Good vocal variety. Looks like you’re trying to use hand gestures more effectively to reinforce key points. You’ve become a real pro at doing TV interviews. Only suggestion- try to smile a little more if you can do it naturally. Jack Rip December 12, 2010 at 2:23 pm The clarity in the BBN appearance is evident at Naked Capitalism day in and day out. The question is why are the banks and the Obama gang ignoring the obvious? F. Beard December 12, 2010 at 2:31 pm Nice interview! niki December 12, 2010 at 2:45 pm What appears to be missing is that the banks are apparently making more money by cashing in on dredit default swaps than by allowing the mortages to mature. If this is true, why would they not want as many mortages to default as possible? bsmi021 December 14, 2010 at 2:40 pm It so nice to hear someone speck the truth and it also so unfortunate that the people who could do the most with it DO NOT LISTEN! Also folks please do not forget that the wonderfully (tongue in cheek) financial team in Washington change and allows banks and large companies to hide large losses (mark to market) this was change to make the banks look better than they are. So the reckoning is still to come the US will have a lost decade, and to many do not believe we will. Cruz Floe January 3, 2011 at 11:20 pm Helpful post, this is. It is definitely wonderful to come across a post that is useful. Comments are closed. Tip Jar Please Donate or Subscribe!