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Posted AT 1:23 PM EST on 23/09/08

U.S. faces recession without bailout: Bernanke

JULIE HIRSCHFELD DAVIS AND JEANNINE AVERSA

The Associated Press

WASHINGTON — United States Federal Reserve Chairman Ben Bernanke bluntly warned reluctant lawmakers Tuesday they risk a recession with higher unemployment and increased home foreclosures if they fail to pass the Bush administration's $700-billion (U.S.) plan to bail out the financial industry.

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