Weiss Reports: 1,200 Banks Have “Imminent Risk Of Failure” [99% Accurate]
From WLT Report
Article By Noah, Original Publish Date: November 27, 2023
Earlier today I brought you this report:
Top U.S. Banks Shut 64 Branches In A Single Week—Are You Affected?
Then this:
Bank of America “Near Insolvent”? Bank Run Possible?
Then this:
Wells Fargo: Big New Wave Of Layoffs Coming!
Then this:
Top U.S. Banks Downgraded!
And finally this:
U.S. Dollar DOWNGRADED Due To “Governance Deterioration”
You starting to get a "meta narrative" here?
Starting to see the big picture?
Weiss Ratings saw it a few months ago, and now I want to give you that report once again, which I think is more relevant now than even when it was first released.
They seem to have nailed it.
WEISS REPORTS:
Did you think the Banking Crisis was over?
I sure hope it is, but honestly folks I have to keep sounding the alarm because I don't think it is.
So while I'd love to bring you "hopium" and positivity, I'd even more prefer to bring you TRUTH.
Because I don't want anyone to say "why didn't you warn us?"
This is me warning you.
It's also Weiss Ratings.
Somehow they fly under the radar, but they should get MUCH more attention than they do.
Unlike the big financial firms who have one ratings agency under one part of their company and then a brokerage house under the other part of their company (a HUGE conflict of interest), Weiss is an independent ratings agency.
Founded in 1971, the company has a stellar track record.
Almost unbelievably so.
How did they far in the 2008 crash?
From their website:
Ok, so a company that was 99.8% accurate in warning about 464 of 465 failed banks is probably someone we should listen to right now.
So what are they saying right now?
It's bad.
It's 2008 times 3 as Weiss is now warning that 1,200 banks are at immediate risk of failure:
[twitter-code url="https://twitter.com/SueDinNY/status/1658496877438926848"]
Here's more from their June 5 article:
I have an urgent message and an equally urgent, today-only recommendation. But first the facts …
Based on year-end 2022 data, our Bank Safety Ratings showed there were close to 4,250 banks and credit unions at present or future risk of failure.
That was both shocking and controversial.
Now, there are 5,274.
That’s bound to be even more shocking and controversial.
So, let me take this opportunity to provide full disclosure of our methodology and philosophy.
First and foremost, we’re not here to protect the banks or make mealy-mouthed excuses for bad management and government meddling. That’s their “job.”
Our job is to help protect the customer and the investor. That’s why we never have accepted — and never will accept — payment from the institutions for our ratings.
The data comes from the FDIC. They’re the ones who collect quarterly reports from the banks and then provide the data to research or ratings firms like ours.
Then our computer models crunch the data and generate the ratings. No bias. No second-guessing or cherry-picking. It is what it is.
But built into our models is our view of what’s important, what’s safe and what’s not safe. So, at the end of the day, our rating is an expression of our opinion.
Other analysts are free to have their opinions, and if they differ from ours, we can have a reasoned debate about who’s on target or who’s not.
Then, let history be the judge.
Opinions are also tied to goals. So, let me say it again: Our goal is to protect the bank customer and investor.
And with rare exception, they tell us the last thing they want is to get caught up in a bank failure.
Read full article here.
WLT REPORT
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