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Thursday, July 09, 2009

EARLY PREDICTION OF WORLDWIDE BANKING CRISIS IGNORED


July 9 2009
8 July 2009

William White was predicteding the approaching financial crisis years before the subprime meltdown in 2007. Now the former chief economist at the Bank for International Settlements is suddenly back in demand.

BY BEAT BALZLI and MICHAELA SCHIESSL

William White predicted the approaching financial crisis years before 2007’s subprime meltdown. But central bankers preferred to listen to his great rival Alan Greenspan instead, with devastating consequences for the global economy.

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