Dr. Doom gets even gloomier
"The events of the last few weeks say we're one accident away from a systemic financial meltdown,"
says (Nouriel) Roubini (NYU economics professor). He points to previous accidents that nearly caused a
universe-eating financial black hole: Bear Stearns in March, Fannie and
Freddie in July and Lehman and AIG a couple of weeks ago. "We're seeing
the beginning of a silent run on the shadow and traditional banking
system," he says. "There's a generalized panic" in the financial
markets.
- Roubini was one of the few predicting disaster two years. He thinks the bailout is flawed and will have little long-term effect on the markets
- Roubini was one of the few predicting disaster two years. He thinks the bailout is flawed and will have little long-term effect on the markets
About this blog
Economic Alert is a daily blog on business and the economy in the San Gabriel Valley and beyond, featuring updates and observations from the staff of the San Gabriel Valley Newspaper Group. SGVN includes the San Gabriel Valley Tribune, Pasadena Star-News and Whittier Daily News.
Your hosts:
Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
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Ryan Carter covers business and the economy for the San Gabriel Valley Newspaper Group.
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Your hosts:
Kevin Smith is business editor for the San Gabriel Valley Newspaper Group. Over the past 15 years, Smith has covered development, housing, employment, technology and financial trends for a variety of newspapers.
Ryan Carter covers business and the economy for the San Gabriel Valley Newspaper Group.
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