GM CEO: Euro Debt Crisis Could Still Infect US: "General Motors Chief Executive Daniel Akerson says the European debt crisis has not yet passed and could still spread to the U.S.
The crisis might spread to exposed U.S. banks, Akerson told reporters at a conference in Shanghai, according to The Wall Street Journal.
The debt contagion, he said, may spread if American financial institutions are holding assets such as bank obligations in Europe, even though U.S banks have less leverage now."
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