International Monetary Fund

Jeremy Scahill
AlterNet
November 21, 2008

A who’s who guide to the people poised to shape Obama’s foreign policy.

Bloomberg (October 14, 2008) Roubini Sees Worst Recession in 40 Years, Rally's End (click for video):

From Bloomberg:

I spent the weekend in Washington attending the IMF annual meetings and giving a series of talks in a variety of public and private fora (IADB talk, C-Span interview, Euro 50 Group meeting, IMF panel, etc.).

The US and advanced economies’ financial system is now headed towards a near-term systemic financial meltdown as day after day stock markets are in free fall, money markets have shut down while their spreads are skyrocketing, and credit spreads are surging through the roof.

Wednesday I was on Yahoo's Finance Tech Ticker and here is the video and the interview in several segments:

No Quick Fix: Roubini Forecasts Worsening Economy, 2-Year Recession (click for video)

Whenever there is a systemic banking crisis there is a need to recapitalize the banking/financial system to avoid an excessive and destructive credit contraction. But purchasing toxic/illiquid assets of the financial system is not the most effective and efficient way to recapitalize the banking system.