Large U.S. Banks May Fail Amid Recession, Rogoff Says
From Bloomberg.com Aug 18, 2008
The worst is yet to come in the U.S.,” Rogoff, a Harvard University professor of economics, said in an interview in Singapore today. “The financial sector needs to shrink; I don’t think simply having a couple of medium-sized banks and a couple of small banks going under is going to do the job.
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