Bush says US risks “long and painful recession”; McCain/Obama to meet at White House; Stress in credit markets rises - Spanish bank offers free cars for opening long-term, interest-free deposits
Sep 25th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
President George W. Bush said on Wednesday night in Washington, that the US was facing a “serious financial crisis” and risked a “long and painful recession” if Congress failed to pass the proposed $700bn bailout of the US financial sector. Bush invited presidential candidates Senators Barack Obama and John McCain to meet with congressional leaders at the White House Thursday. Meanwhile on Wednesday, there was increasing stress in credit markets while a Spanish bank began offering its customers cars free of charge in exchange for opening long-term, interest-free deposits.