Mike Mayo: writedowns worse than the Great Depression

| 8 April 2009 09:00

Despite the fact that I can envisage a cyclical upturn this Winter, the menace of bank writedowns is ever-present. One analyst who has been particularly prescient on warning on this front is Mike Mayo, now working at Calyon. Below David Faber of CNBC talks about a recent prediction by Mayo that writedowns will be even worse than the Great Depression. Given the title of this site, I’m sure you realize I sympathisize with this point of view.

avatar About Edward Harrison

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages, a skill he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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