Yesterday, Italian Prime Minister Sergio Berlusconi said that world leaders were thinking about shutting down the financial markets. While he was quick to retract his statement, referencing "the radio" as the source for his misinformation, my question is this:
If Nouriel Roubini is right, and the "US and advanced economies' financial system is now headed toward a systemic financial meltdown" with the possibility of a "a systemic collapse and a global depression," is a cooperative, multinational "shutdown" of the financial markets even feasible? If so, how would it need to be coordinated? Also, what rights/protections would individual investors have over their investments during the "shutdown" period?
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