How bad could this get?
2:39pmWith everyone still digesting the news about Bear Stearns needing an emergency Federal loan, Greg Mankiw highlights these comments from Marty Feldstein:
The United States is in a recession that could be "substantially more severe" than recent ones, National Bureau of Economic Research President Martin Feldstein said on Friday. "The situation is very bad, the situation is getting worse, and the risks are that it could get very bad."...
Feldstein said the downturn could be the worst in the United States since World War Two.
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