16 September 2008

Nouriel Roubini and the Collapse of the Shadow Banking System

He is predicting that the current model for investment banks is unsustainable.

He thinks that independent brokerages are done, and will be purchased by some of the mega banks, including extensive foreign ownership and control.

It's a good read, but the interview below is good too. My favorite quote is, "They're all toast."

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