This is the last post in this series on Breaking Up the Big Banks (also known as TBTF banks).
This is slightly longer podcast but it covers in more detail about where the economy, banking and finance are going. This is about housing bubble, the loss of investments and also about the recovery of this country’s economy and that of the global economy. Why do I mention the global economy and why the focus? Because the economy is now a global econommy. If you have watched the effect of various members of the EU whose member countries were facing dire economic situations. These situations — ours and theirs– affect the entire global market in terms of business and finance. The conversation evolves to this point and Shaffer spends a good amount of time explaining why.
Did you miss part 1? Here’s the link for part 1 with Fred Shaffer
Podcast part 2 with Fred Shaffer
This podcast is important to listen to because it answers the question “should the big banks be broken up” and how we dig ourselves out of this economic mess. Particularly relevant is the section from 16:47 to about 24:00 are incredibly relevant. There is commentary in that specific section that gives direction for the future and perspective on the past.
I have great appreciation for Fred Shaffer’s time in participating in this conversation. He’s really provided truths and the realities of the economic situation from the downturn and with an eye toward the future. Thankyou Fred for your expertise in this conversation! Should you wish to contact Fred Shaffer for business questions, please contact him at Email Fred Shaffer .
Fred Shaffer, Managing Partner, GTO Development
Fred Shaffer’s career includes significant accomplishment in real estate investment,
mortgage finance and capital markets securitization and trading. Over the last fifteen
years, Fred has started and managed several real estate related businesses in Los Angeles
which invested in and developing residential and commercial property. During that time
Fred’s companies invested in over 100 properties, developed, constructed and / or sold
over 400 residential units with a completed market value of approximately $300 million.
Fred has broad experience in all aspects of real estate investment and development,
including acquisition, debt and equity financing, project design, entitlement, construction,
property management and marketing property for sale or rent.
Prior to moving to Los Angeles, Mr. Shaffer was Partner and CFO with Ellington Capital
Management, a mortgage security hedge fund based in Greenwich, CT and was a
Managing Director with Kidder, Peabody & Co., Inc. in New York, specializing in real
estate finance and mortgage-backed securities trading. Four of Mr. Shaffer’s ten years
with Kidder were spent in Tokyo, Japan where he was head of Fixed Income Trading and
built a $50 million per year revenue stream in MBS and derivative sales and trading.
Mr. Shaffer is a Certified Public Accountant and holds a bachelors degree in Economics
as well as a M.B.A from New York University.
Thanks to Chris Abraham and MarketingConversation.com for the time & space!
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