Video: Jim Chanos on Obama's speech, financial reform, and fraud investigations -- April 22, 2010
Chanos begins after the 3-minute mark. He is preceded in the clip by Obama's speech on Wall Street reform and a few minutes with Bobby Pisani.
Some quotes and a link are inside.
Seasoned hedge fund manager James Chanos told CNBC Thursday he expects to see more actions like those of the securities-fraud charges against Goldman Sachs.
Although some on Wall Street are opposed to reforms proposed by President Obama, Chanos said most accept that it's going to happen.
He disagreed with the belief that financial reform will inhibit business and growth.
Chanos added that he is in favor of even more safeguards than those in the current bill, which may face a procedural vote in Congress as early as Monday.
“It [financial reform] wouldn’t kill the golden goose,” he added. “Some of us think it doesn’t go far enough. On the other hand, it’s certainly a lot of steps in right direction. It’s better than what we have now.”
Chanos agreed with the President’s contention that financial reform is beneficial for the country in general and Americans and Wall Street in particular.