The Demise of the Shadow Banking System and of the Broker Dealers: Some Media Appearances
I discussed in detail over the weekend the Lehman and Merrill crisis and explained why - as I argued months ago - the remaining broker dealers (now only Morgan Stanley and Goldman Sachs being left) will go bust unless they merge with a financial institution that has a stable base of insured deposits. The business model of broker dealers is fundamentally broken and cannot be fixed. I elaborated in detail in a series of interviews yesterday and today on these views. Here are below the links to these interviews.
Here is a link to my July interview on Tech Ticker ("They're All Toast': Roubini Says Brokers, Even Goldman, Can't Stay Independent") where I predicted the demise of all of the independent broker dealers.
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CNBC: Ripple Effects for Wall Street (click for video)
My recent interview this past week on Bloomberg TV where i predict a severe and systemic financial and banking crisis is available online. (click for video)
Crisis on Wall Street: Roubini Predicts Another 20 Percent Stock Drop, Sale of Goldman, Morgan (Click for video):
Big Risk: Surging Debt Makes U.S. More Dependent on China, Russia, Gulf States (click for video):
Was the Government Right to Let Lehman Fail?(click fon video):
Top Economist: Americans Should Worry About Bank Deposits if Congress Doesn't Act (click for link)
Roubini Says Morgan, Goldman Need Partners to Survive (click for video):
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