A litany of economic challenges awaits Obama

01/20/2009 | Bloomberg

As president, Barack Obama will need to find ways to encourage banks to lend again if the U.S. is to recover from the worst recession since World War II, according to this article. Fourth-quarter lending by the biggest banks fell despite the $700 billion Troubled Asset Relief Program implemented by Congress and the Bush administration. U.S. bank problems are "a day-one, minute-one problem for the new administration," said Stuart Eizenstat, a deputy U.S. Treasury secretary from 1999 to 2001 and now a partner at Covington & Burling.

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