Risk of recession, says World Bank as recovery falters

There is a "significant risk" the global economy will slide into recession in the coming months, jeopardising attempts to relieve poverty in the developing world, the World Bank warned yesterday.
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Ersatz Advisers
The president's new money men are odd picks, to say the least.

George W. Bush's economic-team replacements are looking stranger and stranger. For starters, this was the rare case where the Bush team dropped the ball politically. Treasury Secretary Paul O'Neill got dumped before there was a new man in place. O'Neill had irritated the Bushies because he is a plainspoken fellow rather than a loyalist. One of the things he had spoken plainly about was his skepticism on the need for a big new tax cut. In addition, O'Neill, former CEO of Alcoa, was seen as a liability because he never really gained the confidence of Wall Street in a year when financial markets were tumbling.
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Jobless Recovery
by Mark Fiore