Thursday, October 23, 2008

Nouriel Roubini: "A Situation of Sheer Panic"

Stern School economist Nouriel Roubini now sees a very serious run on hedge funds that may necessitate closing markets for some period. Roubini, "The usual saying is when the U.S. sneezes, the rest of the world catches a cold. Unfortunately, this time around the U.S. is not just sneezing, it has a severe case of chronic and persistent pneumonia. It's becoming a mess in emerging markets." Video is here.