This was surprisingly excellent video on CNBC this AM:
Bryan Marsal, CEO of Lehman Brothers Holdings, has been unwinding Lehman Brothers since the firm’s historic collapse. He discusses the process with CNBC.
While yesterday's US stock market close was poor, Asia and Europe didn't follow today as debt in Greece, Spain, Portugal, etc... rallied, their CDS narrowed and stocks bounced. The Greek finance minister said January tax revenues came in above expectations and that spending was below target for the month and said "that means the deficit reduction for January is well within what we have promised." The euro is rising in turn. Also helping is the story that Trichet is headed to the European Union leaders summit a day early in order to address Greece's problems even as the Greek finance...
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July 6th, 2009 at 1:02 pm
That was very good. I especially liked his comment about how we are treating overleveraged banks right now… the “extend and pretend” phase…
July 6th, 2009 at 1:52 pm
“then send in the keys…”
They got real quiet at the end. Sobering stuff…even for the CNBC cheerleaders.
I’m thinking there might be a few hairs on fire at GS/FED to start off the week.
That makes me happy.
July 6th, 2009 at 11:48 pm
Heh….I thought this video would attract a lot of comments.
Holiday.
http://www.youtube.com/watch?v=n4PSju9HYwU
July 7th, 2009 at 12:23 am
BR: I agree, this was one of the best interviews CNBC has ever put together! I was particularly struck by two comments from Mr. Marsal: his comment that there was “no due process today” (around the 8:50 mark) and later when he talked about the Fed having the window open to possibly save Lehman (around the 15:00 mark). Great stuff was in that interview and thanks for sharing.
July 7th, 2009 at 7:04 am
[...] Bryan Marsal, CEO of Lehman Brothers Holdings yesterday, now Rosie. Kudos to Squawk Box for 2 consecutive days in a row of quality [...]
July 7th, 2009 at 8:36 am
Wow, CNBC still has a few good bits left in it.