The economic costs, the financial costs, the job losses, the income losses, the fiscal costs of bailing out financial system are becoming larger and larger.

I am quite international. My background, born in Turkey. My family is a Jewish family from Iran, so I went from Turkey to Iran to Israel, and then grew up in Italy and ended up in U.S. for graduate school. So I tend to look at things from an international perspective, and I think that gives you a little bit of a broader view of what's going on.

The trouble is that the average trader on Wall Street, he or she is so young, he doesn't even remember the recession of 2001, let alone the previous one.

Nouriel Roubini Quotes