SINGAPORE – As the global financial crisis worsens at least one large U.S. bank is going to collapse within the next few months, according to the former International Monetary Fund’s chief economist. Kenneth Rogoff said that despite hopes that the U.S. economy had turned the corner, it is "not out of the woods."
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"I would even go further to say the worst is to come," he told the BBC. "We're not just going to see mid-sized banks go under in the next few months. We're going to see a whopper; we're going to see a big one, one of the big investment banks or big banks.”
Rogoff offered the prediction during a conference here.
