US Downtrend To Last For A Couple of Years?
Tuesday, August 19, 2008
Said on CNBC website.
- Could Last 'A Couple Years'
"I think we're stuck in a downward channel for a couple years," says Chris Orndorff, head of equity at Los Angeles-based Payden & Rygel. "This process of deleveraging that's occurring is a very significant headwind for the economy. It's going to take a while for the banks to right themselves."
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