Politics & Government

September 28, 2008 5:32 PM

Rescue package aside, economy faces deep challenges

The congressional compromise to rescue Wall Street won't cure much of what ails the struggling U.S. economy. Many economists believe the U.S. economy is in recession. The wave of bank failures and mergers is sure to lead to large layoffs in the financial sector — and elsewhere. Already computer makers Dell and Hewlett Packard have announced job cuts in expectation of worsening sales.

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