Roubini on Bloomberg TV
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2008-07-16 — rgemonitor.com
Some excerpts:
- This is by far the worst financial crisis since the Great Depression
- Hundreds of small banks with massive exposure to real estate (the average small bank has 67% of its assets in real estate) will go bust
- Dozens of large regional/national banks (a’ la IndyMac) are also bankrupt given their extreme exposure to real estate and will also go bust
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