Nouriel Roubini: Financial Crisis Far From Over

The bearish economist sees more pain ahead for the global economy.


Anyone who thinks the worst of the financial crisis is over hasn't been talking to Nouriel Roubini.

From his Wall Street Journal Op-Ed, co written by Ian Bremmer:

The U.S. economy is, at best, halfway through a recession that began in December 2007 and will prove the longest and most severe of the postwar period. Credit losses of close to $3 trillion are leaving the U.S. banking and financial system insolvent. And the credit crunch will persist as households, financial firms and corporations with high debt ratios and solvency problems undergo a sharp deleveraging process.

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