Monday, April 26, 2010

Subprime crisis

January 2008

What began as a US housing problem mushroomed into a crisis that shook stock markets around the world.The global nature of this week's stock market plunge debunks the theory that foreign investors are immune because the U.S. economy is "decoupled" from Europe and Asia. Quite the contrary, says Goldman Sachs International vice chairman Robert Hormats: "It's a recoupling of sorts."

Cf. http://www.youtube.com/watch?v=JWoobmHwJ6U&feature=PlayList&p=72BB3C7176391B91&playnext_from=PL&playnext=1&index=5