#196 a new financial world emerging?

It seems the global financial crisis we’re experiencing at the moment is deeper and more serious than anticipated.

The collapse of Lehman Brothers has caused domino effect on many financial institutions creating turmoil, tsunami, hurricane… Is this the true face of credit crunch?

Below a video clip of NY trader Arthur D Cashin Jr with almost 50 years of experience on turbulent times — the fear today is “Who can I trust to trade with?”

http://news.bbc.co.uk/1/hi/business/7624984.stm.

Will there come a time when there will be no American-based investment banks at Wall Street? A new financial world emerging?

Are we heading towards the Great Depression?

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