Rogoff: Worst is yet to come

Professor Ken Rogoff of Harvard, former Chief Economist at the IMF (and International Grandmaster of Chess) forecasts a worsening of the financial crisis:

The U.S. is not out of the woods. I think the financial crisis is at the halfway point, perhaps. I would even go further to say ’the worst is to come’

Rogoff anticipates that another large financial institution is likely to go bust. Exciting times ahead?!