Cowen to ring stock exchange opening bell on US visit

TAOISEACH Brian Cowen will ring the opening bell at the New York Stock Exchange today but the smiles from those present will mask growing concern about the economy both in the US and at home.

The US economy remains engulfed by the subprime crisis, as major banks grapple with the billions of dollars of bad mortgage debt on their books.

Last Friday, the US witnessed the second largest bank failure in its history, when the IndyMac Bank collapsed and was taken over by federal regulators.