Word: nouriel
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...Facts are important too, and some think Geithner and the government are fudging them. Nouriel Roubini, the hard-headed pessimist who foresaw the financial crisis, wrote Tuesday in the Wall Street Journal that the overall positive message of the stress tests "would be good news if it were credible," but it's not. He points to the recent IMF report that estimated $2.7 trillion in U.S. loan and security losses, and his own estimate of $3.6 trillion for the same potential losses. "The financial system is currently near insolvency," he concluded. Bernanke disputes the numbers, saying banks have "taken significant...
...ahead of ourselves. So far, all we've seen is a slowing of the breakneck economic decline that began in October. There are differing spins you can put on this truth. "People like to talk about green shoots," New York University economist Nouriel Roubini said during a recent visit to TIME. "All I see is a lot of yellow weeds." On the other hand, a slowing in the pace of decline during a recession has in the past almost invariably segued into the end of that decline, recession maven Lakshman Achuthan of the Economic Cycle Research Institute said...
...Columbia economic professor Nouriel Roubini pointed out in a recent report written for private clients, car sales in China have been "artificially boosted on a temporary basis by incentives" and so are unlikely to sustain their rise. Similarly, a spike in purchases of white goods in China's countryside was largely caused by discount vouchers supplied to consumers by Beijing, Roubini notes...
...currencies don't look much more attractive. Investors judge the value of a currency relative to others. Though the U.S. economy may be in its worst condition in almost 30 years, the rest of the industrialized world isn't any better off. "The dollar should be much weaker," says Nouriel Roubini, the bearish chairman of research firm RGE Monitor in New York City. "The problem is, not all currencies can fall relative to each other...
According to TIME calculations, U.S. banks hold $153 billion in residential mortgage bonds that used to have AAA ratings but have since been downgraded. The calculations are based on numbers from the International Monetary Fund, Fitch Ratings and New York University professor Nouriel Roubini. (Treasury and Federal Reserve officials declined to provide their estimates.) To get those selling, the Fed offers some attractive financing, but it hasn't made those details public and the financing is expected to be considerably less favorable than the FDIC rates. Treasury officials insist they have formulas worked out but are waiting to reveal details...