In an interview with RTT News, Ken Tower, senior vice president of Quantitative Analysis Service says we "need to see a bailout plan" to stop the credit contraction from "spiraling deeper."
He says the "big drop" in the market on Monday has "pushed the balance over in favor of voting for the revised bill," but says it will not turn this market around. He predicts the bailout will cause a rally, but warns "then it is on to phase two of the unwinding of credit."
"It doesn't mean the trouble is over," says Tower.
To listen to the complete interview, visit:
http://www.rttnews.com/Audio2/2008/October/1/AMBUZZ-Tower-10.01.08-lbr.mp3
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.