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Maybe analysts -- -- and nailing his manifesto -- it is not a real tightening is -- Carl might marks advised though.
-- -- like -- he might be a bit delusional on some stuff I'm not saying -- it's just right there.
That is according to fox senior correspondent Charlie gets rid of and you -- the I was just in our business.
I wrote that bank analyst -- they assume there was not a pheasant and it's nothing like.
If you would think a little copy editing here you know the one that.
Carl marks device cut and paste baby let's he is about like -- Build a I think was his first conference which would investors since he's changed firms yes from from Roche -- to -- that's wrong again it's not Roche deal it's -- pretty securities now to story that we broke -- Fox Business Network.
And he came out with what he called this is manifest it was a pretty Justine.
To you know it was like a two hour presentation a book about tactic where he came out with I would say some of the most outrageous.
And you know in certain respects because I loved it -- -- I would say delusional stuff.
About about where he sees the markets goers can go through this boldly predicts that banks will be profitable.
Over the next fourteen years like fourteen straight years of profitability.
He thinks and I I asked them why -- gives you all these reasons about housing coming that all the stuff.
And when you ask about fed policy how can predict fed policy for the next -- is does that has an impact on bank are absolutely right he's -- fed doesn't matter.
It take -- what it's worth does what he -- That he talks about.
All the banks right now being a screaming -- but -- sort of -- -- Heath.
It did that -- -- overnight Dick -- these comments but he's great music that everyone except for wells and State Street Wells Fargo in State Street you should buy right now.
He would put those on hold I would say -- -- wanted to better performing -- so I I believe over the last.
The last year or so.
So he's saying hold State Street hold wells.
Put Goldman at the topic is and here's the most think it's kind of outrageous -- that he came out with.
He basically predict that Basil three.
Won't go into effect.
They're not -- implement the the new capital requirements which means banks at the -- all the stuff whole lot of capital.
And basically they're not gonna fully implement Dodd-Frank.
-- the firms are gonna just it's going to be largely ignored her.
What does he -- the sun.
I don't think he has any.
Any it I don't think he has sources at in the European the European you know you you know -- -- -- -- sources among.
The did the global blank regulators obvious it was a why -- he believes.
That to fully implement these things will be destroy the banking business.
And is no way the government's gonna do that.
The table what it's worth I sat there for an -- have two hours or listen to this I was that is.
I love the Boe day he's he's been right on -- lot of staff -- be picked you know into Bear Stearns early on.
He's he's also got the sort of chops to -- -- -- where he made mistakes he came out that was made by the horrible research Lehman.
Until people -- stick with that night I thought the union building thought.
They would never let it go go under the -- -- let it go under.
-- You know so he's done some good stuff but I'll -- -- this thing blew me away in terms of the the there -- there there was an erection to put this to protest went -- and I liked the guy.
I used to be my back I I loved their program so much respect for the -- debuts diamonds and you know -- -- -- CEOs on Wall Street.
That respect my hand and and and like -- think -- top I haven't read -- so right if it was going to be fourteen years of street bank problems -- arbitrary right -- she's fourteen years but -- -- -- notify friends after a -- how does this tie in with the job change and do you think that he felt that he had to come out with a -- giant statement now because my memory there was -- there was how much they know he's.
-- -- this stuff so -- he believes this stuff.
Hello this is I mean when you -- of the people they was tell me how great Citigroup was -- before they -- I mean there are certain things that begins blind spots where I mean loves this in the industry.
You know -- ES well breaking up the banks which I think there's going to be some pressure to do that.
That's it's gonna happen to be pressure he ECB called it like masochistic these -- so I -- are they gonna do it he said.
No they're not gonna do it how he knows this is beyond me you know I can't say anything you know this -- -- -- I -- -- probabilities generally that's sound like that the character from zero dark thirty when they're talking about.
Sorry mommy in that in a compound and they -- -- people's well we -- do probabilities.
Cause you know you know the world is a tricky place I don't know how to be so far so so certain about this stuff.
But he was -- if you're an investor out there he's got a voice he's right on certain things -- what's worth I you'll sometimes it's good to file these guys long term trend I -- One of the things that -- that JPMorgan has taught us.
Particularly I think is that the power of the bank to make a lot of money.
JPMorgan break it and I don't what happened at the big -- of the new -- -- that -- -- when they are printing money we -- without that Citigroup before they blew up.
If we're making 25 billion dollars had to -- five but the break point thanks to print money a certain way and now.
And act that has just put in obviously got -- -- blow up -- trying to get -- up thanks so much good staff or insider.
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