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Economy - Economics USA

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CNN

The legislative proposal - the centerpiece of what would be the most sweeping economic intervention by the government since the Great Depression - was sent by the White House overnight to lawmakers.

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Strike-the-Root

What should you do when your good friend parties too hard one night, downs more alcohol than is thought humanly possible, generally makes a reckless ass of himself in his inebriation, and wakes up the following morning with a hellish hangover and con

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NewYorkTimes.com

It was a room full of people who rarely hold their tongues. But as the Fed chairman, Ben S. Bernanke, laid out the potentially devastating ramifications of the financial crisis before congressional leaders on Thursday night, there was a stunned silen

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AP

[beginning of the end] The Securities and Exchange Commission today announced a two-week ban on short selling of the stocks of 799 financial companies as federal officials continued ramping up efforts to stabilize the global financial system.

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www.spiegel.de

Panic is the word of the hour on Wall Street. Now even Morgan Stanley is fighting for survival. The commercial bank Wachovia and China's Bank Citic are being discussed as possible rescuers. The crisis has led President Bush to cancel a trip.

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Rense.com

"And the failures will extend beyond the financial sector," he predicted. "In the coming weeks, months and years, we'll see a steady stream of banks, giant retailers, consumer product companies, manufacturers, leveraged buyout firm

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CNN

Bush, Paulson outline powerful steps targeting troubled mortgage-related assets weighing down the finance industry. Plan could cost hundreds of billions.

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CalculatedRisk.blogspot.com

The recession in California is getting worse, and rising unemployment will negatively impact the economy and the housing market, leading to lower house prices and more foreclosures - and probably more layoffs. A vicious cycle ...

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PropagandaMatrix.com

CNBC host Jim Cramer says that financial terrorism could have been behind Monday's stock market crash as part of a conspiracy to "bring down capitalism," as the SEC this morning announced a ban on short-selling in an effort to fight mar

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August Review

The implications of AIG being taken over by the US is staggering. It makes the Fannie Mae and Freddie Mac takeovers look like peanuts. AIG insures trillions of dollars of debt and questionable assets all over the world. As more companies and mortg

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Washington Post

Putnam Investments has closed a $12.3 billion money-market fund to limit losses to its investors, the large mutual fund company said today. The highly unusual announcement is the latest sign that tremendous financial pressures are now threatening

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