Jim Chanos spoke with CNBC immediately following President Obama’s speech to the banking community on financial reform today. Chanos said he felt the crowd was more optimistic about reform now, and the President’s relationship with Wall Street.
- 0:15 A lot of common sense in this speech
- 0:30 This regulation is going in the right direction
- 1:15 What the American people and markets want is a fair and level playing field
- 1:55 We are going to see more cases like Goldman, and Sarbanes-Oxley will be used; there was a lot of criminality going on, but not necessarily at Goldman
- 2:55 We have hindsight now, everyone was on the hunt for yield, and made bets like CDOs to get it
- 4:15 Everyone left the hall more optimistic about the package and the president
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