January 16, 2009

College Presidents Hear Warning About Recession

By JEFFREY J. SELINGO

Paul H. O'Neill, President Bush's first treasury secretary, said at a meeting of the Council of Independent Colleges' Presidents Institute that the current recession will be different from past ones, in both depth and length.

"This is not a V-shaped recession, where the rate of recovery is the same as the rate down," Mr. O'Neill said.

He predicted that the bottom would be reached sometime in the next six to nine months, although he added that "if anyone tells you when we will

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