Media Appearance: Power Lunch (10/03/08)

Friday, October 03, 2008 | 12:45 PM
in Media




I will be on Powerlunch from 1 to 2, discussing the bailout/rescue plan, recent mergers, and all things finacial crisis related.

1. It looks as if this plan will squeak through the house, thanks to the sweeteners -- and a healthy dollop of fear;

2. The thinking seems to be that a poorly thought out plan is better than no plan at all;

3. M&A activity is a function of certain financials being down 90% -- not an improvement in credit or the economy. The Wells Fargo buy of Wachovia is still a fire sale, albeit at better prices than the Citibank;

4. The raising of FDIC to $250k is a good start; I think we may have to go unlimited gurantees for 6 months, and start closing down the bad banks, recapitalize the good ones.

5. I have yet to see anything that convinces me that eliminating Mark-to-Market is a good idea;

Should be fun . . .


UPDATE: October 3, 2008 2:15pm

Well, that was weird -- I got into a shouting match Charlie Gasparino over CRA, FRE, FNM.

I'd love to debate him on Air, (if they have the nerve)

(Video here)

Friday, October 03, 2008 | 12:45 PM | Permalink | Comments (83) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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Please deliver some head nouggies to Dennis Kneale while you're there BR.

Posted by: Chief Tomahawk | Oct 3, 2008 12:55:35 PM

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