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The GAO report that came out a couple weeks ago said the recession will end starting around August-Sept 2009. This would peg the recession end to Quarter 4 with GDP showing a modest 1.5% growth in the last 3 months of 2009.
The Banks are also projected to make a 250 Billion $$ profit for 2009 without the recession ending.
The report that came out a few days ago showed the Banks wrote off 200% more credit card losses then they actually had last quarter and about 150% more mortgage write offs then they actually had. This is what prompted Obama to announce yesterday the economy isn't as bed as they first thought !
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