As Boeing kills aviation capital and trading partners tank, US export goals Made in a Fairytale?

Duration 28:05 min - 19 May 2012

Follow us @ twitter.com twitter.com Just what is the impact of a bad reputation? According to a Harris Interactive poll, the "reputation quotient" of Too Big to FailsBank of America and Goldman Sachs has slipped below the "dangerous" threshold of now defunct companies including Enron and Worldcom! In fact, financial services companies suffered four of the five worst losses in reputation in the last year. Meanwhile, this week, Moody's reminded us of banking risk when they reported they may downgrade pretty much all of investment banking. Meanwhile, according to the Wall Street Journal Goldman Sachs and Morgan Stanley have reduced their use of mark-to-market accounting. They'll use cost accounting for some corporate loans - this is where assets are held at their original value. Sound sketchy? We think so. Couple declining reputations with rising bank risk, and where is Wall Street headed? We speak to chief economist and senior analyst at Greencrest Capital Max Fraad Wolff about it. He says Couple this with other US economic problems and looking at the rally we've seen in markets Wolff warns "it looks like people have gotten ahead of themselves." Meanwhile, US President Barack Obama is at a Boeing plant in Washington touting his initiative to double exports in five years. But Woff notes about the US economic outlook, "the other really big problem is we're planning to do really well in the next few years through exports and no one kindly mentioned 20% of all our exports go to ...