Tuesday, September 23, 2008

Ross says Fed actions don't address root

(Reuters) Bankruptcy expert and investor Wilbur Ross said on Monday that none of the recent actions to stabilize the financial system addressed the root of the problem -- helping Americans make their mortgage payments.

Ross told the Reuters Restructuring Summit that a recession could last at least through next year, and said that a large part of what happens to the economy depends on what the new U.S. administration does.

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