NYU's Nouriel Roubini predicts that the Four remaining US big brokers/dealers (Merrill Lynch, Lehman Brothers, Morgan Stanley and Goldman Sachs) "will either go bust or will have to be merged with traditional commercial banks." To create confidence in the Banking system, the Central Governments across the Globe will have to provide "a tacit or an implicit guarantee for Bank Deposits without an upper ceiling". Overall investors will loose another $ 2 trillion over the next 12 months, with stocks and commodities falling as much as 20 to 30 per cent from current levels.
Monday, July 28, 2008
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