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Lehman [LEH
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], Merrill [MER
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], AIG [AIG
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]: bankruptcy, buyout, government bailout. Goldman Sachs [GS
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] shares slide amid the fear. And Morgan Stanley [MS
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] is desperately seeking a merger. What does it all add up to?
The death of capitalism, says Paul Donovan. The senior international economist at UBS says governments must step in to steer the global financial system -- or the free market as we know it is doomed.
Watch the video for his frightening prediction.
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The Panic of '08:
- Is Your Money Market Fund Safe?
- Slideshow: Victims of the Credit Crunch (So Far)
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Data is a real-time snapshot *Data is delayed at least 15 minutes