Former Fed Chief Says US Now in Recession

Reuters: "Former Federal Reserve Chairman Paul Volcker said on Tuesday the U.S. housing sector faced more losses and the economy was in recession even as authorities moved to stabilize the financial system. Volcker said the priority for U.S. authorities in the credit crisis was to stabilize the financial system even though that meant heavy government intrusion."

http://www.truthout.org/101408D



Reckoning

Laurent Joffrin, Liberation: "We still don't know how much the rescue plan discussed in a whirling water wheel of international meetings this weekend will cost. Even less do we know whether it will suffice to return confidence to a banking system totally incapable of saving itself and the leaders of which seem dissolved in their own panic. But we do know one thing ..."

http://www.truthout.org/101408E



http://freepage.twoday.net/search?q=Paul+Volcker
http://freepage.twoday.net/search?q=housing
http://freepage.twoday.net/search?q=recession
http://freepage.twoday.net/search?q=financial+system
http://freepage.twoday.net/search?q=credit+crisis
http://freepage.twoday.net/search?q=Laurent+Joffrin

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