TITLE

Life Without Credit

AUTHOR(S)
Powell, Bill; Florin, Hector; Kloberdanz, Kristin; Kukis, Mark; Morrissey, Siobhan
PUB. DATE
November 2008
SOURCE
Time International (South Pacific Edition);11/3/2008, Issue 43, p34
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on how leverage--the relationship between debt and wealth--has influenced the U.S. economy and how the 2008 financial crisis has affected that relationship. The author describes the de-leveraging effect in the U.S. financial sector and notes the effects on business and consumer spending. Also discussed are moves by U.S. Federal Reserve Chairman Ben Bernanke and U.S. Treasury Secretary Henry Paulson to avoid an economic collapse.
ACCESSION #
35068549

 

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