Hugh Hendry: “I would recommend you panic”

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In this discussion, Hugh Hendry of Eclectica Asset Management, Gillian Tett of the Financial Times and Prof Jeffrey Sachs of Columbia University discuss the European banking situation.

“I would recommend you panic. The European banking system is in a crisis. Let’s purge this system of its rottenness. Let’s take on a recession. It’s going to be tough, people are gonna lose their jobs. They are going to lose their jobs anyway. We can spread this over 20 years, or we can get rid of it over 3 years,” said Hendry.

This is a lively discussion and worthwhile viewing material.

Source: The Daily Politics, May 27, 2010.

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3 comments to Hugh Hendry: “I would recommend you panic”

  • Keith Piccirillo

    I enjoy his creative thinking and thoughts on things, but I wonder how those 2 large hedged long euro position/short 2 other currencies had to be tweaked. Tobacco was a good spot to be in.

  • Lawrence

    Hugh Hendry is refreshing in his plainspeak.

  • AndyB

    Another Keynesian (Sachs) is proven to be a delusional pawn; move over Krugman, you’ve been replaced by someone even worse.

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