One of the world’s most respected economists believes the banking crisis is far from over, and that U.S. authorities are merely buying themselves some time by insisting the banking system is "sound."
Nouriel Roubini, chief executive of consulting firm Roubini Macro Associates, argued on Friday that the financial system will be unable to cope with the sheer scale of private and public debt that has already been amassed, spawning a “trilemma” that will soon trigger another phase of panic.
