Bank of International Settlements
Top BIS Banker Sees No End to Credit Crunch Fallout
Submitted by MichaelVail on Fri, 01/25/2008 - 6:55pm.
DAVOS, Switzerland (Reuters) - There is no end in sight to fallout from the credit squeeze that may trigger a big slowdown in U.S. growth and chill other economies too, a top central banker said on Friday.
This week, stocks suffered their biggest one-day fall since the 9/11 attacks on the United States as investors feared the credit squeeze triggered last August by defaults in the U.S. mortgage market would tip the United States into recession.

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