Yes, This Is a Bailout of Credit Suisse

The Compound and Friends

Josh Brown

Business News, News, Investing, Business

4.7 • 2.2K Ratings

🗓️ 21 March 2023

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this special episode of Live from The Compound, Jesse Eisinger (senior editor and reporter at ProPublica) joins Michael Batnick and Josh Brown to discuss UBS acquiring Credit Suisse, ProPublica’s new insider trading expose, and much more! Jesse Eisinger is an American journalist and author. Winner of the Pulitzer Prize for National Reporting in 2011, he currently works as a senior editor and reporter for ProPublica. He is the author of “The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives.” Jesse's book: https://www.simonandschuster.com/books/The-Chickenshit-Club/Jesse-Eisinger/9781501121371 Check out the latest in financial blogger fashion at The Compound shop: https://www.idontshop.com Investing involves the risk of loss. This podcast is for informational purposes only and should not be or regarded as personalized investment advice or relied upon for investment decisions. Michael Batnick and Josh Brown are employees of Ritholtz Wealth Management and may maintain positions in the securities discussed in this video. All opinions expressed by them are solely their own opinion and do not reflect the opinion of Ritholtz Wealth Management. Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. For additional advertisement disclaimers see here https://ritholtzwealth.com/advertising-disclaimers. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information. Obviously nothing on this channel should be considered as personalized financial advice or a solicitation to buy or sell any securities. See our disclosures here: https://ritholtzwealth.com/podcast-youtube-disclosures/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	We are here. Welcome. Welcome to the live audience. Welcome ladies and gentlemen to the
0:20.1	precipice of America's Second Civil War. I am your host downtown Josh Brown here with
0:26.9	my co-host Michael Batnik as always. Michael wave hello to the people. My bad. I'm like where's
0:32.1	it? I had YouTube out in the background. I apologize. I was about to freak out. That's my bad.
0:36.1	Hello people. Hello. Hello. Hello. This week we'll witness a rapid succession of bank failures
0:42.0	and rescues around the world. The Federal Reserve will hike into a full scale financial system meltdown
0:48.5	and the broad daylight arrest of a former US president on felony charges. So not that much going
0:54.5	on right now, but we are very, very fortunate to be joined tonight by Jesse Eisinger and Jesse.
1:02.0	We wrote like a fancy introduction for you. Can I can I do the intro? The fancy or the better? Yeah,
1:08.4	absolutely. It's super fancy. You are. You're somebody I've been reading. I don't know probably since
1:16.8	probably since I started my blog. I mean you're you're since the last banking crisis since the last
1:22.4	All right. Jesse Eisinger is an American journalist and author winner of the Pulitzer Prize for
1:27.6	National Reporting in 2011. He currently works as a senior editor and reporter for Pro Publica.
1:35.2	He is also the author of the book The Chicken Shit Club. Why the Justice Department fails to
1:41.4	prosecute executives. Jesse, we are so thrilled to have you on the show tonight. Thank you very
1:46.6	much for joining us. Much appreciated. Yeah, thanks for having me. It's coming great. And I've
1:51.9	been reading you since the last financial crisis. Although I've been writing since many many
1:57.4	financial crises ago. So yeah, I'm getting old now. I am aware. Is this the most fun one so far?
2:06.4	Well, you know, in 2008, I really thought we were I got, you know, cash out of the that's my
2:14.3	children in the background. I apologize. No, I'm going to send them signs to keep quiet in
2:20.3	second. But yeah, I got thousands of thousands of dollars out of the my banking account. I thought
2:26.0	that we were really that the banking system was going to stop working. So that was not fun,
	...

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