Nouriel Roubini, the high-profile economist and chief economist of Roubini Macro Associated, said on Wednesday that a Credit Suisse failure would be like a “Lehman Brothers moment.” Roubini in an interview on Bloomberg Television said the problem with Credit Suisse, which dropped over 20% to a fresh record low, is that it may be too big to fail but also could be too big to be saved, citing the smaller capacity of Switzerland. Under Swiss rules, Credit Suisse would see its bonds converted into equity in a “bail-in” process. Investors seeking safety should go to short-term bonds, TIPS, gold and other precious metals, he said.
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