Analysis: Credit availability will shape U.S. economy's future

12/31/2008 | NYTimes.com

How long the recession lingers and the stock market and housing prices remain depressed depends on the availability of every type of credit, ranging from corporate and municipal bonds to car loans, home mortgages and credit cards, according to this article. Banks are hoarding cash, with the amount being held by financial institutions at more than $1 trillion, three times the figure only three months ago.

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