You have to eventually nationalize US banks, you have to take the problem by the horns. In my view actually most of the US banking system is insolvent.
Nouriel RoubiniI think globalization actually maintains and fosters various elements of national and cultural identities. I don't think everything is being homogenized. If anything, your food, your culture, and your ethnicity might become part of the globalized world, and thus absorbed by other countries.
Nouriel RoubiniWe're essentially continuing a system where profits are privatized and...losses socialized.
Nouriel Roubini