n Without Prejudice - Editor's note

Volume 14, Issue 8
  • ISSN : 1681-178X



Headline after headline this month has been of disappointing economic data. What began in August 2007 and became known as the American sub-prime crisis, evolved into a global credit crisis by the beginning of the fourth quarter of 2008. In September 2008 Nouriel Roubini observed, He went on to observe that the Federal Bank and Treasury claim that spending $700bn of public money to recapitalise the banks was unjustified. Roubini saw the bailout of as doing little to reduce the debt burden of the millions of distressed home owners.

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