Credit crunch will last into '09, economists say
A month ago today, a global credit freeze – so severe that it seemed capable of pushing the world economy into a depression – prompted the White House to unveil a plan to pump hundreds of billions of dollars into the nation's financial system.
Despite some slight easing over the past week, interest rates remain at historically high levels, making it difficult for banks and corporations to obtain needed loans. Interest-rate spreads – a major ...
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