The co-founder and former chief executive officer of battered market-maker Knight Capital Group gave a bullish assessment of the company's future, telling CNBC that Knight can "definitely survive," even without the help of a financial savior.
If Knight should go under, "you'd have a hole in the marketplace," said Kenneth Pasternak who retired from Knight in 2002. The market-maker "needs to restore the confidence of the community at large, but its a very important player and frankly, was a very profitable player until three days ago."
Pasternak insisted that his former company did not need a so-called 'white knight' to rescue it from financial purgatory.
Pasternak added that the firm could rebound "in weeks, not months or years. It serves an unmet need in the marketplace."