Ace Greenberg on Charlie Rose (2004, 2008)
By Barry Ritholtz - November 16th, 2008, 3:00PM
Fascinating pair of discussions with the former head of Bear:
10/22/2008:
01/02/2004
The difficulty lies, not in the new ideas, but in escaping from the old ones, which ramify, for those brought up as most of us have been, into every corner of our minds. —John Maynard Keynes, The General Theory of Employment, Interest and Money (13 December 1935)
Macro Notes
Well, if the FOMC won’t budge, maybe the market will for themPeter Boockvar
Well, if the FOMC won't change their view on inflation and interest rates,= maybe the market will do it for them, albeit in fits and starts. Post FOM= C statement, treasuries have sold off their highs sending the 10 yr note= yield back to 3.6% (a close here would be the highest since August '09)= and the implied inflation rate in the 5 yr TIPS is jumping 7 bps to 2.05%= , the highest since August 2008. Looking 10 yrs out, the implied rate is= 2.30%, up 2 bps on the day and also at the highest level since August...
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November 16th, 2008 at 4:19 pm
Is he for real? I would like to hear your comments, Barry, because it seems this guy is off in dreamland with his idea that nothing is really wrong and nothing wrong was done. I almost smashed out the screen listening to MR GREENBURG, but decided I better stop listening and just backed out.