| From Independent.co.uk: Renewed fears about the length and severity of the financial crisis sent shivers through markets yesterday after an influential economist predicted a big American bank failure and said the worst was yet to come. Kenneth Rogoff, the former chief economist at the International Monetary Fund, warned that the financial sector was probably only halfway through the year-old crisis.
"We're not just going to see mid-sized banks go under in the next few months, we're going to see a whopper. We're going to see a big one, one of the big investment banks or big banks," Mr Rogoff, who is now an economics professor at Harvard University, told a conference in Singapore. "We have to see more consolidation in the financial sector before this is over.".... Full Article: Source
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