Roubini on CNBC

Check out Nouriel on CNBC this morning — he is guest hosting, and makes so much sense it makes the rest of the guest list look almost silly.

My boy Chris Whalen also had a good spot, worth checking out.

Fannie, Freddie & Financials


The rescue
shouldn’t distract investors from the present peril of financials, says Chris
Walen, Institutional Risk Analytics co-founder/managing director

The Financial Development Report   


A look at
the World Economic Forum’s report with U.S. leading the rankings and UK second.
Details with Kevin Steinberg, World Economic Forum COO and Nouriel Roubini,
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What's been said:

Discussions found on the web:
  1. Mike J commented on Sep 10

    Bloomberg beat CNBC to the Lehman release by at least half a minute. In that time, LEH dropped about $0.50 in pre-market. Isn’t their tagline “First in business news” or something like that? I have been watching Bloomberg A LOT more recently.

    Gasparino is such a stooge. Roubini should anchor CNBC every morning.

    Aside to Vermont Trader: MS and Barry had a falling out a few months ago and MS vowed never to come back. He can be found elsewhere, of course, like CR and others.

  2. ben commented on Sep 10

    does anyone else find it worth noting that virtually every single poster on here agrees with roubini?

  3. VoiceFromTheWilderness commented on Sep 10

    oh, yeah, absolutely, it’s those evil libruls that keep calling for bailing out the housing industry. Why just this past weekend, the arch libruls from wall street that have burrowed into the shining beacon of hope, the Bush admin, that is destined to be remembered as the great savior of not only of america, but indeed of the entire world, FORCED, our poor long suffering champion, despite his better wisdom, to give billions of dollars to the taxpayers.

    Like Tanta says, methinks you don’t know the difference between an asset and a liability.

    Funny how that crazy left wing mod inciting newspaper called the Wall Street Journal thinks this was a bailout of wall street. They must have been taken over by libruls.

    Oh, and ‘electrifying the country’ — all proud and smirky. Golly, Mr. Smirky man, ya think maybe your great hero the republican party should have thought about the connection between energy and the middle east before they spent a trillion dollars killing arabs? But it’s a nice euphimism you’ve cooked up there. Ya think he means solar power? Meesa doubt it. Sounds like code for nuclear. As I say nice euphimism — too bad you can’t trademark spin, or you could be profiting off of that little turn of phrase for the next decade.

    It really is too bad that this country’s leaders simply refuse to see the basic facts:

    1) we do not have control of the resource on which our economy depends — oil.

    2) To attempt to control oil by force will engage us in a century long war that we will lose because we will be invaders.

    3) Nuclear power is an ecological nightmare

    4) The Environment does matter

    5) Solution: spend that trillion dollars you just wasted killing arabs on a Manhattan project for energy, to develop a source of energy that is clean and under our control.

    Result: Freedom from the manipulations of the arabs, and the russians, in perpetuity. Ongoing strength of america ensured for hundreds of years.

    Problem: Oil company profits begin to fade as transition is made to new solution.

    So… Invade obviously.

  4. leftback commented on Sep 10

    It was a fairly intelligent morning at CNBC, I actually had the sound on for once. This time Kernen didn’t treat Roubini like a circus act, and they let Ackman talk as well. Whalen was excellent.

    Interesting sucker action in LEH in the pre-market, and it continues into the trading day.

  5. KJ Foehr commented on Sep 10

    It’s not that I agree with Roubini, rather it is that he validates what I already believe. However, I wonder if his anti-American view biases his view of our economy. Because of this I think at some point he will be wrong: overly negative when things finally do begin to improve.

  6. dblwyo commented on Sep 10

    You’re right Whalen knocked a bunch of balls out of the park and Nouriel really adds value. But has anybody really analyzed what Whalen had to say about growing loss rates at banks ? Into and thru Q209 ? Wow, ouch,….? We’re a long way from the floor.

  7. Jim M commented on Sep 10

    Thanks for that clip, Barry. Whalen was amazingly good. He dissolved a lot of the Kudlow-Cramer wool that had been growing around my brain

  8. Bud commented on Sep 10

    VoiceFromTheWilderness, please zip it with regard to oyur nuclear power rant. Do your homework about the fallout from Three Mile Island. In short, not much and entire incident overblown by the media. Renewables must be developed but nuclear power should be part of the plan.

  9. Todd commented on Sep 10

    Interesting that you only see this kind of frank talk sometimes on Squawk, but never on Kudlow’s show.

    Why is Kudlow so afraid of having a guest like Chris Whealen on? Instead, we get the most worthless b.s. from Don Luskin and Vince Farrell on a constant basis.

  10. Blackhalo commented on Sep 10

    “VoiceFromTheWilderness, please zip it with regard to your nuclear power rant. Do your homework about the fallout from Three Mile Island. In short, not much and entire incident overblown by the media. Renewables must be developed but nuclear power should be part of the plan.”

    I concur. Nuclear should be part of the solution but it will be tough to implement due to NIMBYism.

  11. CNBC Sucks commented on Sep 10

    My reaction plus 3 other related random thoughts:
    1. “Six floors down, we are on the third floor” sounds about right, except I think that only accounts for the housing-related financial crisis. I don’t think six floors cover the total required deleveraging of the US, which is more like an elevator ride to the control room of NORAD headquarters.
    2. Despite the news on LEH, the Dow is up 114 and change. What the h*ll…a financial crapping out is the rationale for buying into the rest of the Dow? There are too many Westburies and pot-smoking Baby Boomer traders out there.
    3. Second straight day of muted CNBC HD. This is tolerable, but can someone tell me when Melissa Lee started wearing glasses?
    4. McCain for Prez | Palin for VP | Dick Fuld for Treasury Secretary! If you are going to have a disaster, make it a good one.

  12. VJ commented on Sep 10

    Germany is phasing out their nuclear power plants by 2020 and replacing them with renewables. Nuclear is THE most expensive form of power generation we have.

  13. Rock commented on Sep 10

    According to an analyst article of FT:

    A new poll shows many Germans are having second thoughs about the phase out. The gist of the article is that you can phase out nuclear, but to achieve the CO2 levels, it will be more expensive.

    The nuclear plants have been paid for already and use inexpensive fuel.

    The FT article is a good read for those interested in the subject.

  14. CNBC Sucks commented on Sep 10

    I think we are getting off-topic with the nuke talk. There are a lot of variables such as the pricing of Price Anderson indemnification implicit subsidies that would need to be included for a proper discussion.

    Back to the second video…I found it remarkable that a group of American and British analysts ranked the US and UK at the top of that WEF report. Imagine that! Only goes to prove that in the Information Age, there is a whole lot of noise to weed through to get to the truth.

    Uh-oh, Erin is on in her after-shower best. FULLY muted CNBC HD+ rocks.

  15. Poppa Bear commented on Sep 10

    I don’t see how the US Treasury can bail out anymore banks at this point.

    The Fannie Mae and Freddie Mac take-over by Paulson has wiped out the Treasurie’s balance sheet. Paulson is now using foreign central banks as ammo in his Bazooka in order to prop up the dollar –>

    I have a feeling that there are some big hedge funds and banks liquidating their commodity holdings to cover losses on Credit Default Swaps.

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