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The Biggest Wall Street Losers of 2011

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  • Description

    FBN’s Charlie Gasparino on Wall Street’s biggest losers of the year.

  • Duration 3:54
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The biggest losers of 2011 -- that's a man who reported on -- most of until we can have a big effect would have.

And it is isn't worldwide losers I -- my list would be different was this is losers on Wall Street.

And -- yes -- reported on the you know these these are fun stories at the end of the year and gets into -- not on the list if you're not on the list and I think this is a stellar.

News -- by the way let's start from the bottom meaning this is the least.

The loser of the loser.

We got Bank of America we're having is pretty bad if you think about Bank of America stock this week would below five dollars a share true.

Run by a really nice guy -- morning and nuclear this is about and that's a lot of trouble I think at some point you have to spin off Merrill Lynch the Merrill Lynch subsidiary of the investment banking -- just essentially to make the thing working to pay off some of those liabilities.

But any bank that has a stock that falls below five dollars share in this environment.

Is that there's a -- but not the worst loser right after Bank of America.

A little more of a loser Meredith Whitney what can I say the worst call may be.

In the last twenty years -- you said it was going to be hundreds of billions of dollars.

Of Muni defaults fifty to a hundred large ones they'll start -- default in the in 2011.

I don't think we got one we had we we had some bankruptcies.

Of stuff that was already baked and you know had nothing to do with what -- -- talk about the economy squeeze these.

Municipalities said -- if you listen to her you'll -- a lot of money that makes Meredith Whitney.

The second biggest -- the least the second least -- and certain.

Number four analyst number -- number three Bob Greifeld doubt I like Bob Wright -- Smart guy runs in NASDAQ.

Made it nothing world with making a hostile takeover of the New York Stock Exchange which is what he -- which we broke the story to point out but you know what.

But he started posting about how we got approval from the Justice Department over antitrust thing to -- you never say that.

That's kind of -- that makes Bob Garfield -- to say it.

In the top five -- number three number two.

Morgan Stanley now this is -- just why would I put Morgan Stanley flax and management.

In the second biggest loser for 2011.

Quite frankly I'm doing it because.

For about eight months -- they denied a report by the fox does network that there were studying.

Sort of across the board layoffs they denied it they said it was untrue business is great.

And guess what they did.

And he he started laying people -- sixteen -- that's a huge huge if you can't trust someone on something like that.

-- then there are losing you can't trust among -- other European debt exposure was to point out there are also losers that this stock is down more than 40% for the.

-- -- I'm getting choked up I know you I think you develop personally -- fox.

Because -- really excited might number one loser.

Of the year.

Corzine -- thing about that was an easy get out.

You know here's why I I don't you know you know she shows -- pretty fair to some people actually like on this list that -- losers.

Kind of personally like Jon Corzine went to go before congress and you've run -- there if you run.

If you -- Goldman Sachs if you know where US senator you're governor and you're running a major Wall Street firm and you don't know anything.

You have no idea where the missing money bite of when you don't know anything every DG inherently times he said he doesn't know.

Yeah -- huge loser so Jon Corzine.

In my book is -- -- -- biggest loser or some of the runners up Charlie like.

DSK may be coming -- he's pretty bad but in our ultimately end up getting again off immediately -- you -- east.

And guys like -- court the -- is still multi millionaire the people who were one of the people lose money is not gonna see him as we reported on the show I -- brought this up as well to start.

Taken out all the money lost over the years.

It is is is -- millions are are less multi hard less -- -- report.

DSK was pretty bad -- -- -- kind of wish Spitzer was on the list I think you know he was he was a loser firm for -- -- you know from -- a lousy governor -- any got to show canceled them back.

At about screw us up and anyway -- house fun and it's just all be on some list to.

Somebody's -- -- of today.

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