Bloomberg Invest: Stanhope CEO Sees ‘Substantial’ Crisis Impact

Stanhope Capital Chief Executive Officer Daniel Pinto warned that fallout from the banking crisis will be “substantial” and the Federal Reserve must bear the blame.

“I agree we are not on the verge of a massive run on the banks but there will be very, very substantial consequences,” Pinto said in an interview with Francine Lacqua at the Bloomberg Invest conference in London on Wednesday. These will include consolidation, especially in the US, as well as by banks specializing, he added.

WATCH: Stanhope Capital Chief Executive Officer Daniel Pinto speaks with Francine Lacqua at the Bloomberg Invest conference in London on Wednesday.

Source: Bloomberg

The comments follow one of the wildest weeks in the recent history of finance which saw fears of ...