Seems he believes that the US need to shrug of the Wall St shackles and that the US banks need to come clean. Spoke out about Obama really cow towing to the banking system and Wall St.
Also that fiscal stimulus packages may halt the decline short term but that it is not and will never be a panacea to the crisis. Further he sees a longer recession could only be on the cards given the fact that they are not addressing the root cause of the problem - solvency of the banks there in essence as opposed to liquidity (and here is where he chose his words carefully) he would not commit to forecasting a depression (as he had not lived through one himself)......
