Roubini Says ‘Panic’ May Force Market Shutdown

Via Bloomberg:

“We’ve reached a situation of sheer panic,” Roubini, who predicted the financial crisis in 2006, told a conference of hedge-fund managers in London today. “There will be massive dumping of assets” and “hundreds of hedge funds are going to go bust,” he said.

Of course, hundreds of hedge funds are already going bust, and those that aren’t are still seeing massive withdrawals that are forcing them to liquidate positions.

We are also witnessing a “stampede for the exit” – it’s just that some are slipping back in when the door is ajar.

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