Latest / Wall Street Truthbombs Podcast
THE CREDIT CARD COLLAPSE: How Banks Are Hiding Bad Debt!
American credit card debt just reached a record $1.263 Trillion at an average interest rate of 22.15%, but major banks are reporting stable delinquency rates. In today's Wall Street Truthbomb, Chief Investment Officer Mark Malek exposes the off-balance-sheet plumbing financial institutions use to scrub defaulted loans before earnings calls.Mark uncovers the shadow data from yesterday's New York Fed Household Debt Report, showing how serious 90-day delinquencies hit 6.97% while regional bank defaults crossed 6.4%. Discover how mega-banks sell non-performing receivables to private debt buyers…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.