Banking System Is On “Knife’s Edge” As Fed “May Destroy The World” | Chris Whalen

Chris Whalen of Whalen Global Advisors returns to Forward Guidance to share his views on the recently released third quarter earnings from banks such as Bank of America, Wells Fargo, JPMorgan Chase & Co., Citi, Charles Schwab, and Goldman Sachs. Whalen also discusses with Farley companies about to report such as American Express, PNC Financial, Bank of the Ozarks, and Truist. Filmed the afternoon of October 17, 2023. __ MetaMask Portfolio is your one-stop shop for all things web3. Instead of connecting to multiple exchanges, dapps, and tools, you just need to connect to one simple dapp to track and manage all your assets across different networks and accounts. Try MetaMask Portfolio: __ Follow Chris Whalen on Twitter Follow Jack Farley on Twitter Follow Forward Guidance on Twitter Follow Blockworks on Twitter __ Timestamps: 00:00 Introduction 00:55 Bank Earnings For Third Quarter So Far Are “Cautiously Mediocre“ 03:32 Commercial Real Estate (CRE) 10:46 Defaults Remain Within 2019 Levels 15:42 Chris Is Somewhat Bearish On Most Of U.S. Banking Sector 19:33 Charles Schwab ($SCHW) 35:13 Goldman Sachs ($GS) 43:06 Regional Banks (PNC, U.S. Bank, Truist) 47:04 Card Issuers Such As American Express, Discover, and Capital One 48:34 Private Equity & Private Credit 51:47 CRE Lenders Such As KeyCorp, Western Alliance, and Bank of the Ozarks 52:52 Risk Of Another Bank Failure 58:18 Potential Of “TARP 2.0“ 01:01:54 Is Recent Bear Steepening In Bond Market Good For Banks’ Earnings Power? __ Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.