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G20: Profound And Complete Disappointment For The US Treasury

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Early Friday I went through the G20 communique for the Wall Street Journal; a marked up copy is available on-line.

It is hard to imagine how the summit could have gone any worse for the US Treasury and the president. The spin machine is now working overtime - and you'll see big efforts to get more positive stories over the coming week - but on all fronts the outcome is very bad.

Read the whole story at Baseline Scenario