Marc Faber, the publisher of the Gloom, Doom and Boom Report, told CNBC that the new bank bailouts are not likely to work because they are run by the same people who prolonged the economic agony by throwing money at weak companies rather than allowing them to fail and encouraging the strong ones.

Faber expresses his opinions on the financial crisis, the danger of government bonds being downgraded in the wake of massive bailout plans, as well as the outlook for stock markets, currencies and commodities.

Click here or on the image below to view the first part of the interview.

Click here for the second part of the interview.

Click here for the article.

Source: CNBC, January 19, 2009.

View original at: Investment Postcards from Cape Town

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