Bailout News CNBC Video: Nouriel Roubini Says Recession Will Last Through 2010 and Calls For Temporary Nationalization Of The Failed Banks

The interview was yesterday on CNBC's power lunch with Bill Griffeth.

Recession through most of 2010.

Banks are already owned by the government so temporary nationalization should be the next step.

More coming.

link 1

Update on Mar 18, 2009 at 12:03 AM by DailyBail

New Photos

Comments

[Nicole]

What is Timothy Geithner waiting for? Everyone knows it's going to happen eventually. Why the charade?

[P-Owed]

Roubini loses me with that accent. Still I agree with him. Put them into receivership and write down those asset values.

[Anon]

Betcha the recession doesn't last that long.

[Ain't Bullshittin']

They are waiting so the big bankers can hit the Treasury Cash Pipe one more time......

[DailyBail]

@Ain't Bullshittin'

Correct. I think the plan is to have taxpayers inject one more time. Probably about $1 trillion more and then after that money runs out they will put them into receivership. This method protects teh bondholders for 1 more go round.

Bill Gross is probably arguing heavily for this.

[Geneva_Protocol]

@DB

I think the drive for nationalization is losing speed with this bull-shit bear market rally.