Nouriel Roubini, co-founder & chairman at RGE Monitor, also known as Dr. Doom, doesn’t put a lot of credibility into the U.S. bank stress tests. He tells CNBC’s Martin Soong that the tests aren’t stressful enough. Josh Felman, assistant director from the IMF joins in the discussion.
Airtime: Wed. May 6 2009 | 8:05 PM ET
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"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
Knowing that the vote over the weekend in Greece was really a referendum on Euro membership, a majority of the Greek Parliament said yes to staying. European Finance Ministers meet again on Wednesday to solidify the 2nd bailout package for Greece at the same time hopefully a deal is consummated between Greece and its creditors this week. The Greek 14.5b euro bond that matures on March 20th is up by 2 pts. The optimism that all will be completed and contained AGAIN to Greece has yields lower in Portugal, Spain and Italy. The iTraxx Financial Index is also narrower by...
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May 7th, 2009 at 4:55 pm
Is he still 100% cash?
Not so laughful anymore huh Mr. Roubini.