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JAMES CHANOS INTERVIEW

Nice interview here with a great short seller.

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    Onlooker

    Interesting. He was very understated on the market. I expected more negative sentiment on the rally, but I suppose he didn’t want to appear to be just talking his book like everybody else that appears on CNBC (and elsewhere).

    Another thing that caught my ear is the comment by the CNBC numb skulls on prime mortgage reserves. “Do you really think we need to worry about prime?” They were baffled by the prime reqts of JPM, which are probably insufficient. Some reporters they are (I know, I know). They still think it’s just a subprime problem that’s going to pass soon.

    If they’d just take some lessons from the brains in the blogosphere (Mish, Dr. Housing Bubble, and you TPC, among many others) they might have a clue. They still don’t understand (or are in deep denial like most of the rest of the country) this thing. They refuse to acknowledge the structural problems and moreover the debt deflation that is driving the show here. Unbelievable.

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