Credit Suisse Group Chief Executive Officer Brady Dougan said the market for mortgage credit will be “problematic” for as long as 18 months.
The Federal Reserve’s Aug. 7 decision to keep interest rates unchanged set off a chain of high-level discussions with Wall Street executives, money managers and cabinet officials that culminated in Chairman Ben S. Bernanke’s public about-face 10 days later, according to records of his schedule.
Starting with a phone call from former Treasury Secretary Robert Rubin the day after the August rate meeting, Bernanke’s appointments included Lewis Ranieri, founder of Hyperion Capital Management Inc., and Raymond Dalio, president of Bridgewater Associates.
With that kind of access I think I might be more comfortable predicting a put too. Must be nice to be able to move those multi-billion dollar funds in confidence that your conversations have predictive power.