Chris Whalen on Dylan Ratigan Show (Fed Bailouts, Banks and Spain)

Chris Whalen of Institutional Risk Analytics was featured on Dylan Ratigan's show on MSNBC on 12/3/2010. Here are key quotes by Chris Whalen on the recently released details of the Fed bailouts. The video is after the jump.
"Goldman would've failed"

"The Fed is now there to support the speculators and they let the real economy go to hell, that's the bottom line"

"The impact, the negative effect of the speculation, especially in residential mortgages, was so awful that the Fed had to come to the aid of big corporations too which were cut off from commercial paper"

"Wait til we get to Spain. Spain is worse than Ireland"


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