Chris Whalen Destroys Buy-Side Clown (VIDEO)

Video:  Erin Burnett with Chris Whalen -- Aired Aug. 5, 2010

Goldman is planning to spin off proprietary trading to comply with the Volcker rule -- Chris Whalen, Institutional Risk Analytics and David Stepherson, Hardesty Capital.

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What an idiot.  You're a mid-level portfolio manager and you agree to appear on CNBC to discuss bank stocks and earnings against the greatest banking analyst of the last 2 decades.  And you're unprepared.  You deserve the annihilation.

Second clip inside of Whalen with Larry Kudlow and James Glassman discussing the Fed, economy, recession.  Yes Glassman, the Dow 36,000 nimrod.  Do I still show glimpses of PTS from years as a tech bubble short seller?  Probably.

From Whalen's email to the Bail:

• "This is a great example of how the Street is walking into the buzz saw on financials, happily buying lower revenue and poor quality earnings."

Keep watching.  Whalen does not let up with the beatdown until Burnett closes the interview.

Clip #2

CNBC Video:  Kudlow with James Glassman and Chris Whalen -- Aired Aug. 20, 2010

Must See from Whalen:

• Chris Whalen On Bernanke: Person Of The Year, My Foot! He Has Made A "Pig's Breakfast" Of The Economy (VIDEO)

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Screenshot

Comments

[DailyBail]

N.Y. Fed May Require Banks to Buy Back Faulty Mortgages, Assets

http://www.bloomberg.com/news/2010-08-04/new-york-fed-may-make-banks-buy-back-faulty-mortgages-bought-in-bailouts.html

I've not covered this development...Whalen mentions it in the clip...

[DailyBail]

Aug 4 (Reuters) - The Federal Reserve Bank of New York on Wednesday said it may try to force banks to repurchase bad home loans backing securities it holds, joining the ranks of other big investors who have been gaining momentum with identical demands.

http://uk.reuters.com/article/idUKN044827220100804

More on this from reuters...

[DailyBail]

Waiting for 'Dow 36,000'

http://www.washingtonpost.com/wp-dyn/content/article/2009/03/04/AR2009030403455.html

Wow..what an idiot...

[DailyBail]

Watch The Trailer For KRACH, The Movie That's Going To Blow Wall Street 2 Out Of The Water

http://www.businessinsider.com/krach-trader-games-2010-8#ixzz0xduvK7Ud

Short trailer

[DailyBail]

Living in fear in London: the exiled Kazakh banker accused of $2 billion fraud

http://www.thisislondon.co.uk/standard/article-23870765-living-in-fear-in-london-the-exiled-kazakh-banker-accused-of-dollar-2-billion-fraud.do

[DailyBail]

Intel CEO Blasts Obama Administration, Says Anti-Business Policies Are Killing The Country

http://news.cnet.com/8301-13578_3-20014563-38.html?tag=topStories1

[DailyBail]

Bernanke's helicopter could move to new altitude

Key Jackson Hole question: What more can, and will, the Fed do?

http://www.marketwatch.com/story/bernankes-helicopter-could-move-to-new-altitude-2010-08-25

[DailyBail]

New-home sales drop to record low 276,000 yearly rate

http://www.marketwatch.com/story/july-new-home-sales-fall-to-record-low-pace-2010-08-25

[DailyBail]

Anti-Government Sovereign Citizens Taking Foreclosed Homes Using Phony Deeds, Authorities Say

Georgia Officials, FBI Are Pursuing Anti-Government Citizens Squatting in Bank-Owned Homes

http://abcnews.go.com/US/georgia-battling-sovereign-citizens-squatting-foreclosed-homes/story?id=11445382

[Dr. Pitchfork]

I like how the other guy refers to Chris Whalen as "the other guy." What an idiot indeed. This clip made my day. Sad. But stuff like this makes my day these days. (When does Turbo get fired?)