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Economy - Economics USA

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ABC News

Texas financier R. Allen Stanford is accused of cheating 50,000 customers out of $8 billion dollars but despite raids of his financial empire in Houston, Memphis, and Tupelo, Miss., federal authorities say they do not know the current whereabouts of

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Poltico

Alan Greenspan had some explaining to do. In 2000, The Washington Post’s Bob Woodward published a biography of the chairman of the Federal Reserve Board entitled “Maestro,” with the cover image portraying Greenspan in full oracle mode: testifying

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AP

A handful of Republican governors are considering turning down some money from the federal stimulus package, a move opponents say puts conservative ideology ahead of the needs of constituents struggling with record foreclosures and soaring unemployme

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Washington Post

The sell-off came despite the signing of the $787 billion stimulus package by President Obama and as auto executives faced a deadline to submit restructuring plans to the federal government after receiving billions in bailout money.

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NY Times

Worries about the deteriorating financial situation in countries like Romania and Hungary led to a huge sell-off that began overseas and crashed ashore on Wall Street. Every sector sank, with financial stocks leading the way and energy companies fall

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AP

GM said it could need up to $30 billion from the Treasury Department, up from a previous estimate of $18 billion. That includes $13.4 billion previously allocated and $91. billion in new loans. The world's largest automaker said it could run out

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Washington Post

The unsold cars and trucks piling up at dealerships and assembly lines as consumers cut back and auto companies scramble for federal aid are just one sign of a major problem hurting the economy and only likely to get worse. The world is suddenly a

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AP

The deepening recession spells trouble for a little-known government corporation that insures the pensions of 44 million workers and retirees. The Pension Benefit Guaranty Corp. already has an $11 billion deficit that seems sure to grow larger

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Reuters

Trump Entertainment Resorts Inc, Donald Trump's casino group, is expected to file Tuesday for bankruptcy, The Wall Street Journal reported. The company's board was scheduled to meet late Monday night to decide whether to authorize the fili

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Calculatedriskblog.com

In an apparent effort to increase pressure on lawmakers negotiating an end to California's fiscal crisis, Gov. Arnold Schwarzenegger is preparing to send pink slips to 20,000 state workers.

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Wall Street Journal

[Investors] need reassurance that our capital markets operate with a consistent set of rules. The Committee on Doubt and Uncertainty offered only the assurance that the rules will keep changing.

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Washington Post

Treasury Secretary Geithner laid out the Obama administration's financial rescue program for his international counterparts in an effort to rally a vigorous global response to the worsening crisis and reassured the world's leading economies t

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Creator's Syndicate

Who remembers economists' hysteria over the "Reagan deficits"? Wall Street was in panic. Ronald Reagan's fiscal irresponsibility was bringing the end of the world. The 2009 federal budget deficit that Obama is inheriting, and adding

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