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Economy: Recession #925872

NBC Evening News for Monday, Dec 01, 2008
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(Studio: Brian Williams) Official word that the US has been in a recession for a year noted; the drop in the stock market cited. NOTE: Local news bulletin on screen.

(New York Stock Exchange: Maria Bartiromo) The tough day on the economic front reviewed; details given of the layoff of Washington Mutual workers by JPMorgan Chase. [National Bureau of Economic Research Jeffrey FRANKEL†- predicts it will be a deep and long recession.] [Washington Mutual employee Tiffany DARBYSHIRE†- comments.] [National Retail Federation Scott KRUGMAN†- says Black Friday is not an indicator of the rest of the holiday season.] [Princeton University professor Paul KRUGMAN†- says this is nightmarish.]

Reporter(s):
Williams, Brian;
Bartiromo, Maria
Duration:
00:02:40

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