Posts filed under “Video”
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Banks are supposed to lend money, and when they stop – as they have in recent
months – the workings of our entire economy are threatened. Credit became so
frozen, the government had to step in this past week and take an ownership stake
in the country’s biggest banks.
On Monday Treasury Secretary Henry
Paulson summoned the CEOs of the nine largest banks to Washington – and gave
them a massive amount of money so they would start lending again.
largest of the banks is Bank of America (B of A) – now partly owned by the
United States of America.
The head of Bank of America, Ken Lewis, says
that when he and the others met at the Treasury Department, it became clear that
Secretary Paulson’s "offer" was an ultimatum – no negotiations.
other words, take it or leave it?" correspondent Lesley Stahl asked.
"Right. Right, right."
The Bank Of America
The CEO Of The Nation’s Largest Bank Talks About Treasury’s Plans For Buying Into Financial Firms
60 Minutes, Oct. 19, 2008
My boy Chris Whalen, managing director at Institutional
Risk Analytics, on the banking crisis:
Bailout Nation: More Govt. Control of JPMorgan, Citi, BofA Coming
Yahoo Tech Ticker, Oct 20, 2008 11:32am EDT
Fun stuff for a Saturday night — these guys are such pros:
McCain Roasts Obama
Obama Roasts McCain
Finding the Humor in the Election, Each Other and Themselves
NYT, October 17, 2008
Speaking of anecdotal sentiment indicators: What does a Lehman Brothers’ broker do with his days now? Untucked Films found out. Directed by Chuck Divak and Jonathan Emmerling.
OMG, this is hysterical:
Perfect entertainment for a quiet Friday —
Hat tip: themessthatgreenspanmade
Bill Moyers talks with comedian Jon Stewart, host of Comedy Central’s THE DAILY SHOW since 1999, about how faking the news can reveal more of the truth than all of the Sunday-morning talk shows put together.
April 27, 2007
I did a video interview with Smart Money a few months ago — warning that the credit and financial crisis about to get a lot worse — and by the time they were ready to post it, the Dow had already plummeted 2000 points (or as its been known around here lately, Tuesday).
They had me come in and reshoot another 4 minutes worth:
Jeez, look at my eyes . . . I have to stop smoking those big fatties in the car on the way to these things. Visine no longer seems to do the trick! (heh)
Hat tip George at Agoracom
Roubini has a nice long chat with Charlie Rose . . .
See also Roubini on Bloomberg TV
Roubini Sees Worst Recession in 40 Years, Stock Drop
Eric Martin and Rhonda Schaffler
Bloomberg, Oct. 14 2008
I will be on Powerlunch from 1:15 to 2pm today, discussing the markets, bailout/rescue plan, Bernake testimony, and all things crisis related:
1. The new Bailout price tag is $2.25 Trillion Dollars
2. Ben Bernanke speech on
why he took this job and WTF did he get himself intoStabilizing the Financial Markets and the Economy;
3. Paulson’s reversal regarding bank capital injections comes after a long period of underestimating the problem;
4. Regardless, we still have to deal with a nasty recession;
5. Something about the election/debate is likely to come up.
Should be fun . . .
There were 3 video segments;
The 1st segment, starts at about 3:30.
2nd segment is about markets in general starting at the 1:50.
click for video
3rd segment has a Dennis Kneale mea culpa, and our buy call.
Airtime: Wed. Oct. 15 2008 | :50:0 08 ET
Discussing today’s market action, with Barry Ritholtz, director of equity research at Fusion IQ