Sheila Bair, former FDIC chair, went on CNBC today and talked very greasy about the banks. Essentially, she declared they were not adequately capitalized, needed counter-cyclical capital buffer — something the Fed is not likely to impose at this time.
In true bearshitter fashion, she warned about leveraged loans, capital buffers, ballooning corporate debt, and even retorted to Faber’s suggestion that the banks were better off now than before 2008 as ‘fake news.’
A must watch for all trader, especially perma-bulls
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Lol
There’s lots of investment grade junk corporate debt out there …including in mature companies in tech that have transitioned from innovation to issuing debt, buying other companies, and hiring lawyers to sue innovators for encroaching on them. Short AVGO and ORCL, long lawyers.
The Golden Rule of the moment: IT IS TBTF IF THE BIG MONEY SAYS IT IS TBTF.
Me thinks that the Big Money thinks that the stock market is TBTF.
A perma-bull/bear is not a trader.