Economist Roubini: More Action Needed to Restore Confidence

63 TRILLION DOLLARS IN DERIVATIVES,and company paper????? A couple of months ago the financial experts said 37 TRILLION, how could they be so far off their own estimates??? Could it be more than 63 TRILLION. THIS IS HARD TO BELIEVE, They'd throw me in jail if I stole a lolly pop, and then I'd have to do community service too, and repent, and hold my head down in shame!!! HELP,, I CAN'T MAKE ANY SENSE OF IT!!!

Our world is forever changed but if you really think about it, our world of the last 20 years, was just a fantasy to begin with.It was a world where everyone was living well, feeling great BUT IT WAS ALL LIVING ON BORROWED MONEY. We borrowed, we forced our government to borrow and now, for at LEAST the next 25 years we will have to pay it back. Even then, we will still be in debt. We have forced our government to raid our Social Security Trust Fund to the tune of 37 Trillion Dollars, add to that maybe another 13 Trillion that we are still borrowing PLUS interest and we have a long way to go. So as we read the news, we need to discount the notion that people lost large amounts of money in their investments - 401k's etc. I think the news catcher is saying to the tune of 2 Trillion. No one lost anything beause it wasnt there to begin with, it was all borrowed money. Its time for people to pick a 3rd party President, one that really wants to make things right.

HARARE (Reuters) - A Zimbabwean soccer player drowned in a crocodile infested river during a ritual to cleanse his team of bad spirits before a match, a state newspaper said on Tuesday. Maybe we can convince congress to "cleanse" itself.

Silver Surfer here... Want to listen now...? They have implemented first step of the GREAT AMERICAN PLAN... 1. Lower Discount Rate .5% Step 2 2. Lower Mortgage RATES 1.5 % immediately... GET ON THE GREAT AMERICAN PLAN NOW... Step 3. 3. Implement 1 work day without driving ALL AMERICANS work from home 1 day to cut price of oil in half goal $33 per barrel....ASAP GET WITH THIS PLAN IMMEDIATELY

Wow Iceland is going bankrupt, Asia markets crashing .... whats next .... the DOW will go down to 3000 or so. We need an alien abduction of Congress.

Let's hear it for our corporate aristocracy. French revolution anyone????

The people we once admired are being beheaded. How could they know that the people on the ground were giving mortgages to illegal aliens-no questions asked?

It's too late, Bernanke and Paulson made a MAJOR BLUNDER when they let Lehman Bros go bankrupt. This destroyed already fragile banking system confidence, and once destroyed it will take a lot of time to restore. Until then expect panic, chaos, and the government to attempted more and more foolhearty monetary policies. Unfortunately given the Fed's lack of understanding in these matters I expect them to make more blunders before they are through (like reducing interest rates again ... hello $4.50 gas prices)!

Too bad the legislature probably won't listen to him even though he predicted this back in 2006. And he also wrote a paper back in Feb 2008 on the 12 step to a world-wide financial meltdown. Too bad Paulson and Bernanke have too big a ego to ask for advice. FYI - we are in step 12.

patricia25: They need the 100% markup to hold after-bailout parties, that's why. Crooks!

A country with 300 million great people and the parties bring Obama and McCain forward to lead us out of all this, now I have a warm and fuzzy feeling! We better wake up, appears we are almost too late to do anything about it. YIKES

We would find the crocodiles dead the next day from choking on too much pork!!!!!

Roubini should have been on the inside as a valued adviser. He called this situation years ago and no one listened. Paulson and Bernake are way over their heads and the Presidential candidates do not have a clue. Expect a "bank holiday" very soon where everything just seizes up and nobody is working. We are looking financial Armageddon in the face by throwing around a mere trillion dollars and cutting interest rates. Worthless efforts... would you believe that Bernake wrote his PhD dissertation on the Great Depression and LEARNED NOTHING! Confidence is what is needed through leadership. Hope everyone is planning to raise their own food next year by growing a victory garden. We are totally screwed.

Nouriel lifiting the veil. New mantra...'Roub rules!!!'

What we are seeing is the herd mentality - everyone is just selling. Once hey leave the market, things will stabilize. Then when we have good news - the herd will jump back in.

It is not a confidence problem, it's a money problem, if there is not enough money in the middle class's pocket, how do you expect them to spend, save, and live. People are withdrawling retirement investments to pay debts and have enough money to live if something unexpected happens. Sure Roubini's ideas are good to recover but without a great saving miracle, like some innovative product to look forward too, to change the world, we are going down. Magnetic motors! Get started now, it's a game changer! without a world war.

This will get better when we get enough of Reaganomics. 8 years of Reagan, 4 years of Bush Sr., and 8 years of Bush Jr., and it wrecked havoc on our economy each time. It's a flawed economic policy because it doesn't take into account human nature. When you make the rich richer you don't get trickle down, you get trickled on. It only makes the rich crueler, more callus, more corrupt and greedier. We should have already learn that lesson from another failed type of government, monarchies.

So do all of you still just think this is a bailout of Wall St??? Told you.

i never lived on borrowed money, yet now my hard-earned and saved money are going down the drain faster you can say "fall". man, this is a scary world we live in.

Do you mean the French Revolution with the guillotines?