Gundlach on Bank Bust #2

By Paul Kedrosky · May 26, 2011 · ·

Good Jeff Gundlach segment on CNBC on Tuesday talking about the high likelihood of an echo banking bust. Worth watching.

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Comments

  1. matcohen says:
    May 27, 2011 at 1:29 am

    Did he say $200 billion in nonperfoming loans at B of A? 10-Q says $30 billion.

    • joeb says:
      May 27, 2011 at 2:41 pm

      precisely his point….they've only written off a fraction of what is going to happen.
      i know 2 people who have not made payments in 18 months. both have TRIED to give the house back to the bank.
      in both cases, the bank refused to accept.

      ask around… i think it is the same story all over.