Fixing The Banking System Is Key To Global Recovery

Author: Eric Uhlfelder

5 January 2009, Financial News

Massive deleveraging, a full year or more of recession followed by years of slow growth, high unemployment and wartime-like federal deficits.

It’s hardly a cheerful outlook from Harvard academic Niall Ferguson, who presents a UK television series called The Ascent of Money. And that’s his best-case scenario. His forecasts do not bode well for most investments over the near term.

Ferguson is a professor of history at Harvard University and the William Ziegler Professor at Harvard Business School.

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