Financial Stocks: The Survivors
Mohamed El-Erian of Pimco joined CNBC to analyze the fall of Lehman Bros. and the liquidity crisis for financials in general.
El-Erian, co-CEO of the world's biggest bond fund, said that some financials may actually emerge stronger from the credit crunch. Specifically, he named Bank of America -- which is buying beleagured brokerage Merrill Lynch.
"The winners are the stronger financial institutions, that are consolidating, that are going to be gaining market share," said El-Erian.
- Pick his Brain: Watch the whole interview (6 mins, 10 secs)
New from CNBC.com:
More Stocks in the News Monday:
- Berkshire Hathaway