Nouriel Roubini gives his assessment on the path forward for US banking and investment, and it’s, as is his wont, very negative.

He’s been right on everything so far with his predictions, except that reality has been even more bearish than he is.

That would be my assessment of the latest, because, I think that he underestimates the effect of the eventual stampede towards the exits of foreign investors in general and sovereign wealth funds in particular.