From Times Online
September 24, 2008

US faces 'one hell of a deep downturn,' says Welch

Jack Welch, former General Electric boss, believes the US economy can no longer avoid recession, even with a $700bn bailout

Times Online and agencies

Jack Welch, former General Electric chairman and chief executive officer, said the US economy is facing a deep downturn, and he supports a proposed $700 billion government rescue package for the financial sector.

“I now believe we are in for one hell of a deep downturn,â€