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Jim Rogers to CNBC anchor: "If you're blaming all this on short sellers, then you should be... have another job."
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This Link is located in the Public Channel Housing Bubble and Bear Links.
Posted by ian 1 year 242 days ago (youtube.com). Views: 2,045
Tags: housing bubble fannie mae freddie mac |
| Related Tags: credit crisis gold wall street peter schiff economics inflation banks |
Jim Rogers on CNBC: Fannie and Freddie ... let the patient pass away.
Great video. I have never seen him this pissed.
Excerpt at 3 mins, 48 seconds:
Bertha Coombs: "There's an argument to be made that some of this is also a failure of confidence. And a lot of folks, there are people who say, there are short sellers like you that are talking down these companies, and are out there saying they are insolvent, when in fact they have reserves that are above their mandates."
Jim Rogers: [rolls eyes] "Of please Bertha, I would urge you to pull out their balance sheets. If you think that Fannie Mae and Freddie Mac are solvent, then I urge you to get a balance sheet and examine it, or to get someone who can explain it to you. Fannie Mei is not solvent, I mean even Poole, the Federal Reserve has acknowledged that they're not solvent. If you're blaming all this on short sellers, then you should be... have another job."
Wow, I think he was about to say "fired," but stopped himself.
Maybe CNBC should consider hiring people with backgrounds in finance and economics, instead of history majors.
Nice pink bow tie, by the way.
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