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Whitehead sees slump worse than Depression

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Uploaded by on Feb 1, 2009

Worse than Great Depression?
(06:09) Report

Nov. 12 - Former Goldman Sachs Chairman John Whitehead says the current financial crisis could "be a worse depression than the one in the 1930s."

Separately, Whitehead, speaking at the 2008 Reuters Finance Summit in New York, said the next crisis likely to hit the United States could be credit card defaults because "issuers of credit cards are providing terms that are careless" and "it's making credit card debt much to heavy and more than consumers can afford." Speaker: John Whitehead Former Chairman Goldman Sachs Presenter: Fred Katayama New York

(Reuters)

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  • I have been thinking this is a huge problem just around the corner. Thanks for posting this video.

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