Leon Cooperman declares economy in 'textbook' financial crisis.

Billionaire investor Leon Cooperman warns that the US is going through a "textbook" financial crisis, caused by irresponsible fiscal and monetary policy over the last decade, resulting in poor returns for stocks. He predicts that the S&P 500 won't hit a new high for a long time and warns of a coming recession, with stocks potentially plunging 20% this year. Other analysts have predicted similar free-falls for equities.