US may recover amid scandals

Accounting scandals have intimidated US investors and the stock market has tumbled over the last months. The S&P500 lost 21% since the beginning of the year and as much as 13% since June. Alan Greenspan said at the House Financial Services Committee in July that despite the fall in the stock market, he expects the economy to do well this year. 'The US economy is doing well and, according to Green-span, will grow by up to 3.75% this year,' says John Hatherly, global analyst at M&G. 'Consumer spending is good but capital spending is still low. 'He also confirms interest rates will rem...