Wednesday, Feb 20, 2008
12 Steps to Financial Disaster
FT: America’s economy risks mother of all meltdowns
This article discusses Prof Nouriel Roubinis '12 steps to financial disaster', which describes the sequence of events that he thinks will lead from 'Step 1: the worst housing recession in US history' to 'Step 12: a vicious circle of losses, capital reduction, credit contraction, forced liquidation and fire sales of assets at below fundamental prices'...
Posted by henscu @ 12:39 PM (416 views) Add Comment
3 Comments
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1. drewster said...
This was posted earlier:
http://www.housepricecrash.co.uk/newsblog/2008/02/blog-steps-to-financial-disaster-10605.php
For non-FT subscribers, try here: http://news.yahoo.com/s/ft/20080219/bs_ft/fto021920081334359078
Out of his 12 Steps, Nouriel Roubini notes "Step six would be bankruptcy of a large regional or national bank". Northern Rock, anyone?
2. mark wadsworth said...
Yup, Martin Wolf has delivered up what can only be described as 'house price crash porn'. Gratuitous, pointless, but highly enjoyable in a morbid sort of way.
3. This comment has been removed as it was found to be in breach of our Blog Policies.