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Hundreds of hedge fuxnds will fail and policy makers may need to shut financial markets for a week or more as the crisis forces investors to dump assets, New York University Professor Nouriel Roubini said.
“We’ve reached a situation of sheer panic,” Roubini, who predicted the financial crisis in 2006, told a conference of hedge-fund managers in London today. “There will be massive dumping of assets” and “hundreds of hedge funds are going to go bust,” he said.
Roubini is not optimistic |
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| By: Ari Thursday October 23, 2008 10:39 am | |
3 Comments
at least roubini is now sounding a little better than he was last week.
scary stuff, my dad has already lost about a third of his entire life savings, I do not know how to council his financial affairs
Perris, the safest palce is a money market fund now that Paulson has pledged $540 billion AFTER the funds started getting money put back into them; If he can find one that does currency arbitrage, so much the better.