Wednesday, September 10, 2008
wake up video
cnbc -- in a sign of either bottom or apocalypse, i'm not sure which -- has roubini co-hosting this morning. this segment with institutional risk analyst's chris whalen, who is as good a bank analyst as publishes, continues to sound the alarm on financials. moreover, he's blunt about the prospects of future intervention, calling the fed "tapped out" and projecting direct treasury capital injections into large banks before year end with more than a hundred bank failures in the next twelve months. it isn't often that one hears the word "hyperinflation" used so effectively, much less on the network of market cheerleaders.