The crisis fix

The crisis fix

By BENJIE OLIVEROS
Bulatlat.com

In 2008, when the economic crisis hit the US, newly elected President Barack Obama unveiled a stimulus package that bailed out the erstwhile “too big to fall” financial investment houses and banks. This went on for years with the US government implementing two rounds of quantitative easing measures. But these have not jolted the US economy into greater activity. Unemployment at 9.2 percent remains high, the economy is still lumbering along with a 1.9 GDP growth during the first quarter of 2011, and credit remains tight.

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