Thursday, January 19, 2012

Larry Fink on CNBC in June of 2008

I wanted to find a more recent example (Bernanke and the Fed was too easy....and already well documented) of the danger in listening to "experts" in relation to the Phelps excerpt in the previous post.

A quote from the video below: "We were one of the investors in the Lehman equity offering...Lehman is not a Bear Stearns situation...Lehman is adequately structured in terms of avoiding a liquidity crisis...We believe we're closer to the bottom than another round of calamity."