Roubini has been very accurate so far, he is kind of a rock star of doom (I thought that was my fame). If you break every mortgage contract all hell would break loose in the mortgage bond and derivatives markets.-Lou
US Recession Could Last Up to 36 Months: Roubini
(CNBC) The man who predicted the current financial crisis said the US recession could drag on for years without drastic action.
Among his solutions: fix the housing market by breaking "every mortgage contract."
"We are in the 15th month of a recession," said Nouriel Roubini, a professor at New York University's Stern School of Business, told CNBC in a live interview. "Growth is going to be close to zero and unemployment rate well above 10 percent into next year."
Read Article Here:
http://www.cnbc.com/id/29598949
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