Friday, January 27, 2012

Lauren Lyster Reports Again From DAVOS

ThumbnailLast time Demetri spoke with Lauren, she was busy catching a glimpse of JP Morgan CEO, Jamie Dimon, heading somewhere with his running shoes. Perhaps he was running to do an interview with CNBC, where he said, among other things, that he was happy with the latest LTRO in europe, because it helps banks remain "liquid." Really? Liquid? How can you be illiquid for 3 years? That's not a liquidity crisis, its a solvency crisis. Jamie also said during this interview, that a Greek default posed "almost zero risk" to the US banking system, we examine that claim, as well as another claim that Jamie Dimon made -- mainly, that we are in a new normal economy of "muddle-through" economics -- with our other guest Mike "Mish" Shedlock. Mish is a prominent financial blogger and a financial advisor at Sitka Pacific Capital.