Surveillance: Banking Jitters with Roubini
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 15 March 2023
⏱️ 37 minutes
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Summary
Nouriel Roubini, Roubini Macro Associates CEO & Author of "Megathreats", says Credit Suisse "might be too big to fail, but also too big to be saved." Peter Tchir, Academy Securities Head of Macro Strategy, says the ECB needs to put enough "firewalls" in place to help Credit Suisse. Ken Leon, CFRA Director of Equity Research, says there might be counterparty risk for some of the US banks in regards to Credit Suisse. David Rubenstein, "The David Rubenstein Show: Peer-to-Peer Conversations" Host and Carlyle Group Co-Chairman & Co-Founder, says there is a lot of Middle East interest in Credit Suisse. Lisa Shalett, Morgan Stanley Wealth Management CIO, says the Fed, ECB need to continue on their tightening campaign.
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| 1:31.7 | one of our good friends back. Neural Rebellion is a CEO of Rebellion Macro Associates, but far |
| 1:37.0 | more than that, someone who brilliantly was out front of previous crises. We'll keep the |
| 1:43.4 | introduction short this morning. Neural, good morning to you. How is this crisis different than 98? |
| 1:51.2 | How is this crisis different than 2008? Well, compared to 2008, right now, we don't have the |
| 1:57.8 | credit risk yet. We're not in a recession. The losses that occurred seem to be related to |
| 2:04.0 | market risk. A number of financial institutions did not realize that we rising interest rates, |
| 2:10.2 | the price of bonds would fall. Last year, US banks alone have something like $620 billion of |
| 2:19.0 | unrealized losses on their securities. We have a capital of about 2.2 trillion. The average |
| 2:24.9 | loss is about 28 percent will reduce significantly the capital ratio, the tier one ratio. For some |
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