While the economic sun was shining, most other economists scoffed at Roubini and his predictions of imminent disaster. They dismissed his warnings that the sub-prime mortgage disaster would trigger a financial meltdown. They could not quite believe his view that the US mortgage giants Fannie Mae and Freddie Mac would collapse, and that the investment banks would be crushed as the world headed for a long recession.
Yet all these predictions and more came true. Few are laughing now.
- "The Rising Risk of a Systemic Financial Meltdown: The Twelve Steps to Financial Disaster"
- "Can the Fed and Policy Makers Avoid a Systemic Financial Meltdown? Most Likely Not."
- "Martin Wolf of the Financial Times on my "12 Steps to Financial Disaster""
20081022 Roubini CNBC 1
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