Chris Whalen | FORECLOSURE FRAUD | by DinSFLA

Tag Archive | "Chris Whalen"

Chris Whalen: Bank Of America Should Declare Bankruptcy

Chris Whalen: Bank Of America Should Declare Bankruptcy


It’s beginning to sound a lot like Lehman! Massive layoffs probably coming soon…

BUSINESS INSIDER-

Bank of America has over $100 billion in mortgage liabilities, says Chris Whalen Co-founder of Institutional Risk Analytics.

On a web broadcast published on KingWorldNews, he advocates “the classical American way of dealing with this problem”– complete and total restructuring through Chapter 11. Before its too late.

He says, “The only sane way of fixing this and I mean fix it so that Bank of America comes out of the process restructured, ready to support growth, support leverage, is a classic chapter 11…”

His point: Countrywide’s bond trusts are worthless, were never properly constructed, and don’t protect investors at all. Bank of America is on the hook for all of that, and while its subsidiaries are well capitalized, the parent company is bust. The only thing to do to fix this problem is to unmake $100s of billions worth of bond contracts.

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in STOP FORECLOSURE FRAUDComments (0)


GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Chip Parker, www.jaxlawcenter.com
Kenneth Eric Trent, www.ForeclosureDestroyer.com
Advertise your business on StopForeclosureFraud.com

Archives