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Financial Crisis ‘Far From Over,’ Panel Says

Posted By admin On April 8, 2009 @ 10:05 am In Money Watch | Comments Disabled

CHARLES HERMAN and ALICE GOMSTYN
ABC [1]
Wednesday, April 8, 2009

Though some economic measures are improving, the financial crisis “is far from over” and “appears to be taking root in the larger economy.”

This, despite the government’s commitment to spend trillions of taxpayer dollars on a massive bailout of the financial system.

These were the findings released in a report today by the Congressional Oversight Panel, the body charged with overseeing the government’s Troubled Asset Relief Program, the $700 billion plan aimed at bailing out the country’s financial sector.

“We still have a long way to go. A very long way,” Elizabeth Warren, the Harvard Law School professor who chairs the panel, said in an interview today with Bloomberg News.

Full article here [1]

Financial Crisis Far From Over, Panel Says 335x205 graph128c aj [2]


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URLs in this post:

[1] ABC: http://abcnews.go.com/Business/Economy/story?id=7283059&page=1

[2] Image: http://www.efoodsdirect.com/products.html

[3] Fed Covers Up Financial Crisis: http://www.prisonplanet.com/fed-covers-up-financial-crisis.html

[4] Mortgage-backed securities that brought about the financial crisis earned the U.S. Treasury $25 billion: http://www.prisonplanet.com/mortgage-backed-securities-that-brought-about-the-financial-crisis-earned-the-u-s-treasury-25-billion.html

[5] Soros Says Financial Crisis Marks End of a Free-Market Model: http://www.prisonplanet.com/soros-says-financial-crisis-marks-end-of-a-free-market-model.html

[6] Half the Members of an “Independent Panel” Appointed to Study the Quadrennial Defense Review Have Financial Ties to Defense Contractors: http://www.prisonplanet.com/half-the-members-of-an-%e2%80%9cindependent-panel%e2%80%9d-appointed-to-study-the-quadrennial-defense-review-have-financial-ties-to-defense-contractors.html

[7] Fed’s Rules Let Brokers Turn Junk Into Cash at Height of Financial Crisis: http://www.prisonplanet.com/feds-rules-let-brokers-turn-junk-into-cash-at-height-of-financial-crisis.html

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