Eisman Places a Bet on Turkish Contagion to European Lenders
- Says he’s shorting BBVA, UniCredit on their exposure to Turkey
- Turkish bank shares are already down 33 percent this year
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Steve Eisman, who predicted the collapse of subprime mortgages before the 2008 financial crisis, is betting that Turkey’s economic troubles will also be a drag on two major European banks, Spain’s Banco Bilbao Vizcaya Argentaria SA and Italy’s UniCredit SpA.
“Everybody likes me to call the next disaster," Eisman said in an interview with Bloomberg Television, before being asked about pockets of risk where he sees opportunities.