VIDEO: This Recession Will Take Longer

NEW YORK CITY-This recession will likely take longer to bounce back from than the savings and loan debacle in the 1980s, says Mark Grinis, a partner in Ernst & Young’s Assurance and Advisory Business Services practices. Grinis was interviewed for GlobeSt.TV by Real Estate Forum managing editor Danielle Douglas, in a video interview that can be accessed here .

“Everyone’s trying to find the parallel,” he said. “What can we look to in history?” This downturn could take longer, Grinis said, but the good news is that the banks and the government might look at a longer term solution that they did during the financial crisis just over 20 years ago.