Telling Larry Kudlow that he is wrong does not happen nearly enough on CNBC. If there were any accountability at all, Kudlow would have been taken off the air months ago. If you were trying to be wrong you couldn’t have been as wrong as Kudlow has been over the last few years.
Thankfully Chris Whalen of Institutional Risk Analytics, whom I’ve cited a few times before, actually had the gumption to tell Kudlow that he is clueless. Kudlow’s tactics usually consist of stacking his panel with people that agree with him (in this case Dick, buy Citigroup at $30 Bove) and then talking over the top of anyone that doesn’t. Kudlow doesn’t try to win debates, he just tries to drown the other person out. What he doesn’t understand is that talking over the top of people doesn’t add credence to his arguments, in fact if anything it detracts from them.
In this little segment Whalen debunks the notion that the US banking industry has turned a corner.
