now worse than 2008 with emerging markets most vulnerable.

The only major global financial body to correctly warn that the global financial crisis was coming in 2008, the Swiss-based Bank of International Settlements is again sounding alarm bells as the Federal Reserve prepares to wind down its QE3 money printing program this week.

More and original report:
BIS_Quarterly Report September 2013 Full Report

The Spaniard Jaime Caruana is the Chief of the secretive Bank for International Settlements (BIS).