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Current DateTime: 08:19:39 30 Nov 2009
LinksList Documentid: 30328029

CNBC Stock Blog

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Sep.18
1:39 PM ET
Thursday, 18 Sep 2008
Is This The Death of Capitalism?!

Lehman [LEH  Loading...      ()   ], Merrill [MER  Loading...      ()   ], AIG [AIG  Loading...      ()   ]: bankruptcy, buyout, government bailout. Goldman Sachs [GS  Loading...      ()   ] shares slide amid the fear. And Morgan Stanley [MS  Loading...      ()   ] 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.

________________________________________
The Panic of '08:

- Dow 30 At a Glance

- Is Your Money Market Fund Safe?

- We Need 'Banker Prozac'

- Slideshow: Victims of the Credit Crunch (So Far)

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