Law360, New York (February 2, 2009, 12:00 AM EST) -- We are in the worst recession since WWII, and perhaps since the Great Depression. Daily economic news highlights the status of the tight credit markets, tight labor markets, declining consumer spending, declining capital expenditures, failing real estate prices, rising consumer and commercial bankruptcies, and other depressing economic news that transcends global borders.
The negative economic news has surfaced as a reality to consumers, businesses and industries, including, but certainly not limited to, the banking industry, automotive industry and retail industry.
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