Nouriel Roubini, who at the moment is as close as you can get to being a celebrity economist, today said the following at the Hedge 2008 conference here in London:
“This is the worst financial crisis in the U.S., Europe and now emerging markets that we’ve seen in a long time,” Roubini said. “Things will get [...]
Posts Tagged as ‘Financial crisis’
October 23, 2008
“Things will get much worse before they get better. I fear the worst is ahead of us.”
October 14, 2008
Latin hides the stupidity of the priest
The title of this post is taken from a Sicilian proverb. I think it partly describes the corporate culture that helped create the current banking catastrophe. I also think that it helps explain a phenomena endemic to a lot of bubbles throughout history: the corresponding madness of crowds, or suspension of common sense, which leads to their creation.
Risk models that didn’t account for crisis conditions [...]
