Tags: Roubini | Firm | Sale | economics

Roubini Reportedly Puts His Firm up For Sale

Thursday, 13 Oct 2011 12:09 PM

Nouriel Roubini, the New York University economist made famous for predicting the U.S. housing bust and ensuing recession, is reportedly putting the economics research firm that bears his name up for sale.

Roubini Global Economics, which employees 85 people and will likely post revenue of $14 million and a net loss of $2 million, should see revenue grow by 8 percent next year followed by 40 percent in 2013, sources tell CNBC.

Roubini has not yet commented on the reports.

Several years before the collapse of the U.S. housing bubble and ensuing recession and other problems, Roubini made dire warnings predicting the worst contraction since the Great Depression at a time when reckless mortgage lending marked the business of the day.

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Nouriel Roubini
(Getty Images photo)
Famous for his pessimistic outlooks, Roubini has backtracked on some of his recent gloomy predictions but insists that dark clouds continue to build on the horizon for the world's developed economies.

In other words, we are far from out of the woods yet, especially as the European debt crisis continues to unfold.

"At this point, the issue is not whether there is going to be a recession or a double-dip but whether it’s going to be relatively mild or whether it’s going to be a severe recession and a global financial crisis," Roubini says, according to Bloomberg.

"The answer to that question depends on what’s going to happen in the eurozone and whether they can get their act together."

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Nouriel Roubini, the New York University economist made famous for predicting the U.S. housing bust and ensuing recession, is reportedly putting the economics research firm that bears his name up for sale. Roubini Global Economics, which employees 85 people and will likely...
Roubini,Firm,Sale,economics
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2011-09-13
Thursday, 13 Oct 2011 12:09 PM
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