Dr. Doom Strikes Again

Readers of this blog have heard this before from Nouriel Roubini, but he’s giving interviews at the Davos Forum.

Roubini said the U.S. government should nationalize the biggest banks because losses will exceed assets, threatening to push them into bankruptcy. The banks could be privatized again in two or three years, Roubini said. The professor reiterated his prediction that U.S. financial losses will more than triple to $3.6 trillion and that global equities will fall 20 percent this year from current levels.

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