Chris Whalen on slowing housing and Jim Rogers on North Korea
In today's headline story, Erin Ade reports on the trial of senior Irish bank officials at the helm of Anglo Irish Bank, one of the most spectacular busts in financial history costing Ireland some 30% of the nations GDP in a state bailout. The executives are accused providing illegal loans to help prop up the failing bank's share price. Could the same befall American bank executives?
Then investment banker and author Chris Whalen joins Erin to discuss the mortgage market. Chris, as Managing Director for Carrington Holding, one of America's largest private firms focused on the end-to-end spectrum of residential real estate, has a bird's eye view of what is happening in America's mortgage market. He believes the market has been softening and sees the millions of households in America still dealing with underwater mortgages as a big reason why. Chris also believes poicymakers are attempting to inflate their way out of the problem rather than addressing the issue by dealing directly with the underwater mortgage problems.
Then, in Boom Bust's weekly best of the best segments, we hear from three of our guests from this past week. Famed investor and author Jim Rogers talks to Boom Bust about North Korea as a emerging market for the future. Plus Jim gives us his view on the present emerging markets crisis and free trade agreements. Afterwards, Sam Antar and Francine McKenna take on the world of accounting and tells us that all is not what it seems.
Last but not least, in "In the Margins", Erin and Boom Bust producer Edward Harrison discuss viewer feedback, taking on free trade and the benefits (or lack there of) of our present fiat money currency system.
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