Chris Whalen drops F-Bomb on Wall St. while sounding bankruptcy alarm!
The G8 and NATO summits – we'll talk about the realpolitik of the US situation when it comes to generating domestic economic growth. Chris Whalen from Tangent Capital Partners is our guest. We talk Spain, which is denying reports of a bank run at its second-largest lender, Bankia. Are we seeing a larger run on Europe? JP Morgan CEO Jamie Dimon to testify before the Senate Banking Committee? His company’s $2 billion loss has prompted the NY Fed to examine how banks in its district are managing deposits. Hmmm…we wonder if Dimon gets any say in that since he is on the Federal Reserve's board.
We talk about regulation and fraud – after all, this is the real F-Word on Wall St. that no one wants to utter, helped by their cronies on Capitol Hill. And when things are bad in the economy, they’re usually good for people in the vice industries. But are things so bad in Europe that even strippers are threatening to walk? That appears to be happening in Paris – Demetri, Lauren and Shannon will address this and other stories in today's Loose Change.