Still, the Economist offers some reason for hope, suggesting that perhaps the effects of the information technology remain to be seen, and we are in a gestation period during which the positive economic effects have yet to appear.

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"We'd like to give management the benefit of the doubt, however questions remain, " he said, adding that the bank still had exposure to subprime mortgage assets and it remains to be seen who will be appointed to permanently head the investment-banking division.

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