I don't like being an agent of panic transmission but Nouriel Roubini has been prescient for so long that people ignore him at their peril. According to Bloomberg, this is what he said today to a group of hedge-fund managers:
"We've reached a situation of sheer panic. There will be massive dumping of assets and hundreds of hedge funds are going to go bust."
I can only imagine the look on the hedgies' faces. But wait, there's more:
"Systemic risk has become bigger and bigger. We're seeing the beginning of a run on a big chunk of the hedge funds and don't be surprised if policy makers need to close down markets for a week or two in coming days."
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