According to this report we are in the midst of a financial PANIC! Should you be doing a major withdraw? I think so!
Roubini Says `Panic' May Force Market Shutdown, Fund Failures
By Alexis Xydias and Camilla Hall
Oct. 23 (Bloomberg) -- Hundreds of hedge funds will fail and policy makers may need to shut financial markets for a week or more as the crisis forces investors to dump assets, New York University Professor Nouriel Roubini said.
``We've reached a situation of sheer panic,'' Roubini, who predicted the financial crisis in 2006, said at a conference in London today. ``There will be massive dumping of assets,'' and ``hundreds of hedge funds are going to go bust,'' he said.
Systemic risk has become bigger and bigger,'' Roubini said at the Hedge 2008 conference. ``We're seeing the beginning of a run on a big chunk of the hedge funds,'' and ``don't be surprised if policy makers need to close down markets for a week or two in coming days,'' he said.
`This is the worst financial crisis in the U.S., Europe and now emerging markets that we've seen in a long time,'' Roubini said. ``Things will get much worse before they get better. I fear the worst is ahead of us.''
cool blog enable anonymous comments ;)
ReplyDeleteReally,the business man's worry about their money loss,they thinking to withdraw the their money form the banks,you can find more information...
ReplyDeleteDid the prediction come true???
ReplyDelete"don't be surprised if policy makers need to close down markets for a week or two in coming days"
Nope...