The credit crunch and its effect on the economy made headlines in 2007, but what is the outlook for 2008?

David Williams, national managing principal of the Advisory Services practice at Deloitte Financial Advisory Services LLP, talked with Riley McDermid from Marketwatch and Wallstreetjournal.com in a recent video interview. He discussed the following credit issues:

• His views on some of the dangers surrounding the credit crunch
• Historical comparisons
• The likelihood of government intervention
• Some of the sectors that are being, and may be, impacted