Roubini: Bank Balance Sheets Pose Biggest Threat To Recovery
Nouriel Roubini, NYU economics professor and chairman of Roubini Global Economics offers his latest prognostications in a CNBC "Fast Money" interview.
Roubini: The debt ratios of banks and (individuals) are very high; (Individuals) have barely started saving. So what we’ve done is socialize these private losses and now we have a massive releveraging of the public sector with large and unsustainable budget deficits. (The deficits) are leading to accumulation of public debt - over $10 trillion over next 10 years. (That massive amount) of debt may lead to another crisis.
