Jim Rogers: Collapse of Lehman due to a few incompetent people

Jim Rogers on Lehman, Merrill Lynch & AIG. In an exclusive interview with Commodity Online, Jim Rogers said that the gigantic amounts of leverage caused by a few totally incompetent people caused the collapse or Lehman Brothers and is similar to the problems plaguing Merrill Lynch and AIG. Jim Rogers said that as Lehman used to invest heavily in commodities, force liquidations because of the financial situations at many firms has hit the markets hard. Jim Rogers predicted that the economies in several countries including that of hte US economy will continue to be hit hard by the crisis.

Jim Rogers Predicts more chaos ahead for US Banks. Jim Rogers predicts that US banks and financial institutions face more chaos ahead as the balance sheets of many were terribly impaired. Rogers commented that the credit bubble will not be cleaned out in the near future

Jim Rogers still Long on Commodities. Jim Rogers says that commodities are in a phase where stocks were thirty years ago. Rogers said that bull markets are caused by supply and demand and with supply dropping and demand ever increasing, the bull market for commodities would surely continue. Jim Rogers most recent investments are in the Japanese yen, airline stocks, Swiss Francs, Agriculture and Chinese renminbi.