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Hundreds of banks will fail, Roubini tells Barron's
reuters.com — NEW YORK, Aug 3 (Reuters) - The United States is in the second inning of a recession that will last for at least 18 months and help kill off hundreds of banks, influential economist and New York University Professor Nouriel Roubini told Barron's in...
deepsu- 63 diggs
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- plimpton777, on 08/06/2008, -0/+11FTA:
"The regulators should investigate themselves for bailing out Fannie Mae and Freddie Mac, the creditors of Bear Stearns and the financial system with new lending facilities. They have swapped U.S. Treasury bonds for toxic securities," he told Barron's. "It is privatizing the gains and profits, and socializing the losses as usual. This is socialism for Wall Street and the rich." - Catspaw, on 08/06/2008, -0/+8Anyone in debt, should get out of it pronto and start storing food. Hard times are ahead.
- cms9000, on 08/06/2008, -0/+8I agree catspaw. I have been telling people to stock up canned foods (Not the name brands either,) as well as things like rice, dry milk, etc. Some listen, others don't. Stock up on the basics as well as basic first aid, and so on.
- Shabow, on 08/06/2008, -0/+1Good time to buy gold and silver...they are nearing their 90 day lows...
- MarkEarhart, on 08/06/2008, -0/+2Don't forget to stock up on ammunition like you are going to be in a war zone, because you most likely will be.
- CoolHandLuke70, on 08/07/2008, -0/+1I second that with advice to make sure that you know how to safely handle and clean your weapon of choice. Ammo is the key -- there will be plenty of guns but ammo is not guaranteed!
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