Institutional Risk Analytics has "enormous prestige in financial markets"? Since when?
I've worked in investment banking for twenty years, and I had honestly never heard of IRA before this year, when Chris Whalen became a ubiquitous presence in the media. I've still never met a client of IRA, nor do I know of a single investment bank, commercial bank, hedge fund or investment firm that is a client of IRA.
Their main job seems to be booking media appearances for Whalen, whose cartoonish conspiracy theories, particularly about Goldman Sachs, are borderline delusional. I assure you, Whalen is not a well-known or respected bank analyst. He's just one of the yahoos on CNBC, and he happens to confirm Greider's pre-existing worldview. That doesn't make his firm an authority on anything, and it definitely doesn't mean his firm has "enormous prestige in financial markets."
New York, NY
May 26 2009 - 4:06am