"Profits have been privatized and losses socialized"

Nouriel Roubini really lowered the boom on Wall Street and the Republican system of ignoring basic regulatory obligations. I wish CNBC would allow video to be embedded, but watch the video in this link. Roubini had been predicting this financial failure for a few years so what he has to say is always interesting. Before this implosion, the GOP economists dismissed what he had to say though today, they've all gone quiet.