Tuesday, 25 November 2008

Whalen - No Bank is too Big to Fail

I'm fast becoming a fan of Chris Whalen of institutional Risk Analytics. He pulls no punches and talks common sense. In this segment he makes the case that noone is too big to fail and the likes of Citigroup should be liquidated rather than being put on life support. Unfortunately I think Whalen's points are falling on deaf ears. The quote below from Chris Whalen is one of the most salient statements I've heard in a long time:

We have got to stop pretending that size gives you a pass on economic reality

Citi Bailout
Citi Bailout