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Systemic Financial Meltdown…

“It is now clear that the US financial system – and now even the system of financing of the corporate sector – is now in cardiac arrest and at a risk of a systemic financial meltdown. I don’t use these words lightly but at this point we have reached the final 12th step of my February paper on “The Risk of a Systemic Financial Meltdown: 12 Steps to a Financial Disaster” (Step 9 or the collapse of the major broker dealers has already widely occurred).”

Nouriel Roubini

  1. D Johnson
    October 6, 2008 at 3:36 pm

    In natural disasters, the national guard is often called out to shoot looters. I think they need to be called out to shoot the looters on wall street (and their lawyers too).

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