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US economy may plunge into depression if banking sector bailout fails

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The US economy may plunge into a depression if the $700 billion rescue package fails to revive the ailing banking sector, says Ilian Mihov, INSEAD Professor of Economics.

“The Great Depression (this time) is still unlikely but it is not impossible anymore. This is quite sad,” Mihov says.

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en

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http://knowledge.insead.edu/USEconomyBailout080911.cfm

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Copyright INSEAD. All rights reserved