Friday, March 06, 2009

Dr. Doom Gets Gloomier

Kinda scary.
March 6 (Bloomberg) -- The global recession may continue until the end of 2010 as the response by governments to rectify it is “too little, too late,” said Nouriel Roubini, the New York University professor who predicted the financial crisis.




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The situation can be improved by appropriate policies, including governments taking over insolvent banks, cleaning them up and re-selling them to private investors, he said. The Group of Seven and the Group of Twenty economies “must act together to get out of this mess,” Roubini said.

History will not be kind to Geithner. Or his boss, unless he changes directions quickly.