The subject of this interview is the fellow who made a fortune shorting the big banks going into the financial meltdown of 2008. He is not a naive cheerleader for the banking industry, so his current opinion, which reflects my own carried weight. As many clients know, we have been investing in preferred stock issued by regulated banks for over sight years, with good results.
From Salon.com, “We might not have to bail out the banks again, says real-life “Big Short” investor Steve Eisman” by Thor Benson, August 13, 2016
The email came unexpectedly while I was still recovering from a debaucherous weekend in Mexico. I had just published a piece with Salon on why we may end up needing to bail out the banks again, and I got a response from someone who disagreed. It was Steve Eisman, the person Steve Carell played in “The Big Short.”
“I suppose future bailouts are not inconceivable,” Eisman wrote, but he thought I wasn’t speaking with the right people and hadn’t shown how much the banking industry has changed for the better. I had interviewed two economists and gotten a short quote from Noam Chomsky, who had made the claim about bailing out the banks before, but Eisman wanted to offer some insight from within the industry.
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