Friday, June 25, 2010

Roubini: Panic May Force Market Shutdown

Nouriel Roubini at conference of hedge-fund managers in London

this video dates back to late 2008 , but it is always a pleasure listening to the wise analysis of Dr. Doom Nouriel Roubini....
Hundreds of hedge funds will fail and policy makers may need to shut financial markets for a week or more as the crisis forces investors to dump assets
``We've reached a situation of sheer panic,'' ``There will be massive dumping of assets'' and ``hundreds of hedge funds are going to go bust,''
``Systemic risk has become bigger and bigger,'' ``We're seeing the beginning of a run on a big chunk of the hedge funds,'' and ``don't be surprised if policy makers need to close down markets for a week or two in coming days,''

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