Crisis may bottom yet recession fears rise: analysts

NEW YORK (Reuters) - A year-long global credit crisis may hit bottom soon, but the threat of more banking losses and slower growth for global economies is mounting, senior Wall Street analysts said on Friday. Perplexity “…upon the earth distress of nations, with perplexity…” Root of All Evil “For the love of money is the root of all evi:…..” —1 Timothy 6:10a U.S. and European bank write-downs and losses will likely stretch out to 2009, expanding beyond problem mortgages to other forms of consumer credit, Deutsche Bank chief U.S. economist Peter Hooper told Reuters in a telephone interview. That in turn may lead to slow growth and possible recession in the United Kingdom, Canada and continental Europe as rising inflation and high oil prices rein in U.S. consumer spending, a senior Lehman Brothers Inc strategist said... [read full story]