Wednesday, April 30, 2008

Biggest downturn since the Great Depression

Mort Zuckerman explains we are suffering the biggest downturn since the Great Depression

Watch Mort Zuckerman explain why he thinks that the US is facing an economic crisis the likes of which we have not seen in decades. He explains how the securitization of mortgage loans led even the smartest people in Wall Street to fall for what turned out to be garbage paper.

Mort certainly knows what he's talking about. He is a billionaire real estate developer and investor turned media mogul as owner and publisher of several newspapers and magazines as well as Editor-in-Chief of U.S. News & World Report…

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