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Trading Now

Monday, February 9, 2009

Yes, we know more will be needed. But it's a start.

Obama's $800B-plus stimulus only beginning of rescue
Washington observers said U.S. President Barack Obama's proposed stimulus, worth more than $800 billion, is an important step toward recovery, but they warned that the steps afterward will be even more expensive, politically dangerous and technically risky. "Today, we have three interrelated problems: a collapse of the real economy, a collapse of the banking system and rapidly shrinking world trade," said Jeffrey Garten, a professor at the Yale University School of Management. "If you treat one without treating the others, you are doomed." International Herald Tribune (09 Feb.)

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