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Crisis Not Over Yet

Tuesday, October 21, 2008

Rescuing the banking sector has not yet touched the root of the problem. There is still the threat of a recession.

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DAVID Salt was not at all enthusiastic when he heard the explanation from British Prime Minister Gordon Brown about the bailout funds of Rp500 billion, equivalent to US$865 billion (Rp8,217 trillion) for UK banks. This was because Brown's speech was absolutely no help at all to him. Less than three hours after the speech was made, Salt had to sign his severance letter and immediately leave his office at Castle Clay, a clay factory in Stoke-on-Tren

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