de Blonay predicts financials revolution

New Star manager expects seismic events in September, with another banking blow-up possible

New Star's Guy de Blonay is predicting a revolutionary September in the financials sector. The group's Global Financials manager called recent conditions the worst he has even seen and after a flat August, is expecting potentially seismic events next month. "I think we will see activity in September and before the end of the year unlike we have ever seen before," he said. "We could quite easily see another Bear Stearns or Northern Rock, and it could occur in any of the markets - we are in harsh times, the worst I have ever seen." He referred to last week's speech by former Internati...