Skip to comments.Einhorn Finds Dinner Chat With Bernanke ‘Frightening’
Posted on 05/06/2014 3:37:20 PM PDT by Red in Blue PA
David Einhorn, manager of the $10 billion Greenlight Capital Inc., said he found a recent dinner conversation with former Federal Reserve Chairman Ben S. Bernanke scary.
"I got to ask him all these questions that had been on my mind for a long time," Einhorn said in an interview today with Erik Schatzker and Stephanie Ruhle on Bloomberg Television, referring to a March 26 dinner with Bernanke. "It was sort of frightening because the answers were not better than I thought they would be."
Einhorn, 45, has been critical of Bernanke's willingness to leave interest rates near zero for more than five years. The hedge-fund manager has said the benefits of low rates diminish over time until they are more harmful than helpful, and that the Fed's stimulus has led to income inequality. Bernanke, a former Princeton University economics professor, stepped down this year after eight years helming the U.S. central bank.
In describing the dinner conversation at New York's Le Bernardin, Einhorn criticized Bernanke for saying he was 100 percent certain there would be no hyperinflation and that it generally occurs after a war.
"Not that I think there will be hyperinflation, but how do you get to 100 percent certainty about anything?" Einhorn said. "Why can't you be 99 percent certain?"
(Excerpt) Read more at finance.yahoo.com ...
Any relation to Ira Einhorn?
Huh? Who is that?
Since the start of 2014, retailers have announced the closure of more than 2,400 units, amounting to 22.6 million square feet, more than double the closures at this point in 2013 (940 units and 6.9 million square feet).
Ah, I remember that bag of craps story... I second your motion...