The Julia La Roche Show #329 Chris Whalen: Private Credit Is a Ticking Time Bomb | Banks Will Take Major Losses in 2026
23 snips
Jan 17, 2026 
Chris Whalen, chairman of Whalen Global Advisors and author of The Institutional Risk Analyst, shares his critical insights on the current financial landscape. He argues that the GSE release is politically motivated and discusses crypto as a speculative gamble. Whalen highlights a 2026 risk concerning private equity, labeling it a ticking time bomb for banks. He favors gold over silver for stability and predicts major housing price corrections are needed for affordability. His analysis sheds light on complex financial dynamics and potential market shifts.
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GSE Release Now Politically Dead
- Trump ordering the GSEs to buy back their debt makes release politically impossible.
- Buying MBS would be neutral after hedging, so the move is largely symbolic and risky.
GSE Moves Are Election Theater
- The $200 billion GSE announcement is political theater tied to midterm fears.
- Chris Whalen views moves like this as election-driven rather than policy-driven.
Crypto Is Mostly Speculation In U.S.
- Chris Whalen calls crypto a speculative, polite form of gambling for most U.S. investors.
- He notes Bitcoin can function as money in failed-state contexts, which is a meaningful exception.