Lessons from Lehman: Spotting the next crisis

September 15, 2008, the day the 150-year-old Lehman Brothers declared bankruptcy.
Keith Lew | Flickr Vision | Getty Images
September 15, 2008, the day the 150-year-old Lehman Brothers declared bankruptcy.

Larry McDonald saw a financial panic from the inside while working on the high-yield bond desk at Lehman Brothers when the financial firm filed for bankruptcy seven years ago this week.

He even wrote a book about it.

Now the head of U.S. strategy for the macro group at Societe Generale, McDonald shares with CNBC Pro where he believes the next financial crisis is brewing right now.

(Watch quick video below:)

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