In an interview with RTT News, Jordan Kimmel, portfolio manager at Magnet Investment Group says Congress not approving a bailout of the Big Three automakers would not be catastrophic to this market, though he would expect a "knee jerk move of a few hundred points." "The real question" Kimmel says is, "is it really bad, long term, systemically…and the answer to that is definitively no."
"Sometimes the answer has to be "no" and then you move on," says Kimmel. America has been built on "risk taking," he adds and "not everybody wins."
To listen to the complete interview, visit:
http://www.rttnews.com/Content/AVDownload.ashx?ID=26360&url=Audio2/2008/November/19/PMBUZZ-Kimmel-11.19.08-lbr.
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