Market Expert Who Predicted Subprime Crisis Warns of Impending Stock Market Crash

Larry McDonald, the founder of The Bear Traps Report, is warning that the stock market is about to crash, citing his "Lehman systemic risk indicators" that are flashing warning signs. He believes investors are ignoring the risk of a "rolling credit crisis" after the failure of several banks and focusing too much on new technologies. While this is not a Lehman event that will cause a devastating recession, a sharp drawdown is on its way, he warned.