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Complete loss of foundations of market

September 19, 2008

It’s alwasy easy to say: “I told you” as the noted economic wizard Nouriel Roubini said years ago. As BBC reported the entire edifice of the capitalist system is coming apart: the graph above shows the capitalization of Lehman Bros, Merrill Lynch, Citigroup and AIG over the last year. The equivalent of a GDP of an entire countries has vanished overnight. As some traders from the London Stock Exchange reported in this scary audio:BBC audio

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