Marsico: US authorities have responded well to crisis

Gilchrist, who manages the Gartmore US Opportunities fund and the SICAV US Opportunities fund, argued that the initiative to pump $250bn into shares of the leading US banks and the earlier $700bn bail-out package were to be welcomed. He also welcomed the creation of a special fund to purchase US commercial paper and the coordinated cuts in interest rates. "For the most part, the US administration has acted in a timely fashion that should avoid the lost decade and more suffered by Japan," he said. "However, the various remedies will need some time to take effect." Gilchrist believes tha...