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US bank 'to fail within months'
US bank 'to fail within months'
by Faithful on August 19th 2008, 10:09 am
The global financial crisis is set to get worse, with a large US bank likely to collapse in the next few months, a former IMF chief economist has warned.
Kenneth Rogoff's comments came as shares in Fannie Mae and Freddie Mac sank on a report that the home lenders would, in effect, be nationalised.
Despite hopes that the US economy had turned the corner, Mr Rogoff claimed it was "not out of the woods".
http://news.bbc.co.uk
Last edited by Faithful on August 28th 2008, 12:24 pm; edited 1 time in total
Re: US bank 'to fail within months'
by DianaR on August 20th 2008, 2:51 pm
I think the USA has to accept that a some aspects of the economy will have to be socialized. Right now, the insistence that the wealthy be the sole beneficiaries, if not the cause, of the misfortune of others is bringing this country to its knees.
