The Credit Crisis Turns One

It was a year ago August that the real estate slump turned into a global economic disasterand it's still growing

Happy birthday, credit crisis. It was a year ago August that the world began to suspect the economy was heading into something worse than a slump. Now as another August heaves into view, the credit crisis is a year bigger and—like many 1-year-olds—indiscriminate about where it makes its messes. The real concern is how much bigger it will get.

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