The United States Of Ponzi - The Economy Article - economy, debt, recession

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The United States Of Ponzi

Article Submitted by: ktexas
The Economy

Tags: Economy, Debt, Recession, Nouriel roubini, Bernie madoff, Ponzi scheme, Over leverage, Budget deficits.

Nouriel Roubini, aka Dr. Doom, described his response when a reporter who asked him to comment on the historical significance of Bernie Madoff:

Madoff is the mirror of the American economy and of its over-leveraged agents: a house of cards of leverage over leverage by households, financial firms and corporations that has now collapsed in a heap.

Submitted: Mar 19, 2009 Views: 114 Comments: 0 Likes: 2

View Article: http://www.forbes.com/2009/03/18/american-economy-housing-bubble-ma...

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