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The Fed Blundered In 2008 —And It’s Blundering Now | Richard Field
Forward Guidance
The Debt Zombie Crisis
Jamie Morgan says the credit losses that they're realizing are very small. He's got a lot of places that have got to lose a lot of money. Bankers have always over lent. That's kind of in their nature. It's over lent. So he's counting on, as I said, his where he shorted the market covering his losses. We didn't take care of the bad debt. There's no reason to think that it's commercial lending business doesn't have a lot of bad debt in it. Go back to the number of debt zombies I said to you. We're almost at 20 percent of corporate America is a debt zombie.
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