“The world didn’t learn its lesson from the recent financial collapse and is doomed to repeat a new downturn in the near future, says Mark Mobius, head of the $50 billion emerging markets unit at Templeton Asset Management.
“There is definitely going to be another financial crisis around the corner because we haven’t solved any of the things that caused the previous crisis,” Mobius says, according to Forbes Magazine.
Complex financial derivatives, especially credit default swaps tied to the housing sector, threw the country into the worst recession since the Great Depression, and are still out there — all $600 trillion of them — trading without proper oversight or care, Mobius says.”
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