Nouriel Roubini, an economics professor at New York University, talks about the turmoil in financial markets and outlook for the sale of Lehman Brothers HoldingsL

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Category: Bailouts, Corporate Management, Credit, Video

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8 Responses to “Roubini: U.S. Financial Industry Facing ‘Disaster’”

  1. PeterR says:

    Next stop SPX median line around 1150?

    820 100% retracement?

    Options week could be wild!

  2. VennData says:

    The Internet and IT destroys another ‘Ancien Regime’ business model.

    Even the record companies with their teenager-baiting RIAA have handled this with more grace than Cayne’s Bear and Fuld’s Lehman who refused to accept their are NOT “Masters of the Universe” but powdered-wig wearing, feather-pen-wielding, parchment-shuffling middlemen – now disintermediated – mere clerks that are wholly unnecessary to the functioning of our economy.

  3. Jim Haygood says:

    Great interview. Roubini says investment banks’ business model is fundamentally flawed — so ALL of them (including GS and MS) will have to merge with large banks who have a stable deposit base.

    Securitization, he says, has come a cropper. This may be the first time, in 35 years of the Bretton Woods II paper chase, that “financial innovations” start to be outlawed as too risky, and the world of finance is forced at gunpoint to retreat back to plain-vanilla, fundamental activities such as deposit-taking and prudent, local lending.

    Well, good riddance to investment bankers. They made out like bandits, while the thieving was good. Main Street isn’t gonna mourn their demise. Investment bankers don’t jump from ledges anymore, as they did in 1929, because they don’t see themselves as responsible for any of this. Sociopaths …

  4. JustinTheSkeptic says:

    I wish old Herb Greenburg from Marketwatch would come out and say something, because he, for one, called WAMU out and I believe many others. I am actually of the belief that he quit Marketwatch because of internal pressures. (could be wrong though)

  5. JTS,

    wouldn’t be too surprising, look what happened to Galileo..

    “I do not feel obliged to believe that the same god who has endowed us with sense, reason and intellect has intended us to forgo their use.”- GALILEO GALILEI

  6. odograph says:

    Geez, will this Roubini guy ever lighten up?

  7. Frank Gifford says:

    Now we begin to see the results of failed Republican policies begun by Reagan, continued by Bush 1 & 2. All yours, compliments of the party that is destroying America.

  8. Esme says:

    I can’t seem to get the audio to work. I see the video, but there’s no sound. Ugh (could it be I am on a Mac, using Firefox and Safari)?