"Has our leadership lost its mind? Do these people go home on weekends to some offshore island, where everyone’s retirement fund is doing fine, everyone’s kids have jobs and no one’s mortgage is under water? Where is the urgency? This is code red. We are facing a possible global financial contagion triggered by European banks choking with sovereign debt spreading their woes to an already weakened U.S. financial system" Thomas Friedman, 9/25/11
El-Erian Sees Global Economy Slowing Next Year:
"Former U.S. Treasury Secretary Lawrence Summers said he has been to 20 years of IMF gatherings, and “there’s not been a prior meeting at which matters have had more gravity and at which I’ve been more concerned about the future of the global economy.”
"Billionaire investor George Soros said “something needs to be done” to safeguard Europe’s banks because Greece may be unable to avoid default."
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