Published on: April 20th, 2020 • Duration: 53 minutes
The last time that the world experienced an instance of major economic turbulence, the banks were blamed for their reckless and irresponsible behavior. That event, brought the global economy to its knees, left millions unemployed and sent house prices tumbling. Now, in the face of an unprecedented crisis, we naturally have to ask: In what conditions are the banks today? Will this be a repeat of 08? Chris Whalen, chairman of Whalen Global Advisors, joins Ed Harrison on this week’s Real Vision Live to determine the health of both banks and non-bank lenders while digging into the impact of an economic fallout of this magnitude on commercial and residential real estate.