| |
| |||||||
Dr. DoomThis is a discussion on Dr. Doom within the Wall Street forums, part of the Community category; By STEPHEN MIHM Published: August 15, 2008 On Sept. 7, 2006 , Nouriel Roubini, an economics professor at New York ... |
 |
| | LinkBack | Thread Tools |
10-20-2008, 11:02 AM
| #1 |
| Fanatic Moderator Emeritus   Join Date: Nov 2005
Posts: 1,836
Thanks: 828
Thanked 415 Times in 233 Posts
  | Dr. Doom  By STEPHEN MIHM Published: August 15, 2008 On Sept. 7, 2006, Nouriel Roubini, an economics professor at New York University, stood before an audience of economists at the International Monetary Fund and announced that a crisis was brewing. In the coming months and years, he warned, the United States was likely to face a once-in-a-lifetime housing bust, an oil shock, sharply declining consumer confidence and, ultimately, a deep recession. He laid out a bleak sequence of events: homeowners defaulting on mortgages, trillions of dollars of mortgage-backed securities unraveling worldwide and the global financial system shuddering to a halt. These developments, he went on, could cripple or destroy hedge funds, investment banks and other major financial institutions like Fannie Mae and Freddie Mac. Continue reading... He's not the only economist to be called "Dr. Doom" but it's frightening how right Dr. Roubini has been about the financial crisis (at least this far). Note that this article was written already in August. |
|            |
| The Following User Says Thank You to Mikael For This Useful Post: | Rob (10-22-2008) |
|
10-22-2008, 07:19 AM
| #2 |
| Aficionado  Join Date: Sep 2005
Posts: 4,618
Thanks: 892
Thanked 719 Times in 401 Posts
| Re: Dr. Doom Great article. |
|
| |
