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Hopes high as Obama takes office

Reuters – Barack Obama takes over as U.S. president on Tuesday with hopes riding high he can conjure

up a rescue that will jolt the world’s biggest economy back to life and contain the financial crisis ravaging global markets.

The first African-American to become U.S. president will take his oath against the backdrop of plunging world stock markets, prospects of a drawn-out U.S. and global downturn, a trillion dollar federal deficit and fears of more crippling bank losses.

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