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Christopher Whalen: Big Banks Will Split Up but Small Banks Look Good

“Big financial institutions will split and go back to their core functions of offering either retail or investment banking services, says R. Christopher Whalen, a former banking analyst and now part of the hedge fund Tangent Capital Partners.

“I think you will see Bank of America sell Merrill Lynch before long. It makes a lot of sense. They need to raise some money. Morgan Stanley — they have Smith Barney, they have the old Discover Business. Both of those are under a lot of stress right now,” Whalen tells Newsmax.TV in an exclusive interview.

“I would not be surprised to see the bigger retail firms, if you will, shed their retail arms and go back to being in investment banking and institutional sales trading, because I think those businesses make more sense than the retail business does right now.”

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One comment

  1. Blind Read Ant

    Solid link Ck. Whalen impresses me (never mind his nasal monotone).

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