Investor Steve Eisman, who famously predicted and bet against the 2008 financial crisis, is pushing back against fears of it repeating following recent bank earnings reports last week.

‘Only Marginal’ Credit Deterioration

On The Real Eisman Playbook podcast on Saturday, Eisman discussed the credit quality issues and deteriorations showcased in recent bank earnings reports last week.

“Yes, there are signs of credit deterioration on the commercial side,” Eisman said, “but not enough to actually cause a recession or indicate that a recession is about to occur.”

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Bank earnings from JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C), Wells Fargo & Co. (NYSE:WFC), and others revealed mixed trends in commercial credit.

“There was some deterioration on the edges, but not enough to raise real alarm bells,” Eisman said. He pointed ...