Chris Whalen on the Banks
Posted by Mary Caraccioli | Filed under Economy, Finance, Videos, World Economy
If you think you are the smartest person in the room and you happen to work in finance, then you don’t want to see Chris Whalen walk in the door. Chris is one of the brightest minds on the street. He gets what has happened in the banking industry and saw much of it coming. Over a year ago I first discussed the meltdown at Bear Stearns with him. He spelled out just how ugly things could get. A year later, he is appalled with how badly the banking system clean up is going. In part one of my conversation with him he shoots back at the folks who say, let Goldman and others pay back the TARP money and go on their way. As you will hear, Chris says there are two components to the government bailout. The banks can’t pay back the equity until they do something else first. Take a look. -Mary Caraccioli
Tags: banks, caraccioli, chris whalen, citigroup, financial crisis, goldman sachs, jp morgan
