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The US treasury secretary has warned some banks will still fail despite the $700bn (£406bn) rescue package to shore up the financial system.
In his bleak assessment, Mr Paulson warned the ongoing financial chaos had "seriously impacted" the economy. "Even with the new treasury authorities, some financial institutions will fail,"...
There was an equally stark warning from the International Monetary fund, which said global financial markets were facing their most dangerous shock since the 1930s.