The Wall Street veteran expects stocks and house prices to fall once unemployment and mortgage defaults rise. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementA recession will strike the US economy next year, pummeling stocks and house prices, a Wall Street veteran has warned. So, I predict that's going to happen not until sometime, at best, mid next year." 'Sell everything, you're going bankrupt.'

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Persons: Harley Bassman, Bassman, Steve Eisman, —, Rosenberg, Merrill Lunch, it's, I've, Steve Carrell, Mark Baum Organizations: Wall Street, Service, Management, Credit Suisse, Merrill