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9
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Fed vs Fed: The Fed is Now Fighting ItselfThis sideshow is almost embarrassing, but you had to see it coming when the Minneapolis Fed puts out its paper of “myths” with respect to the current credit crisis: A team at the Federal Reserve Bank of Minneapolis argues that four common claims about the sharp drop in bank lending to nonfin ... |
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4
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Dow drops 337 pointsWall Street has ended a turbulent week with another astonishing show of volatility, plunging, recovering and then plunging again as investors absorbed another wave of downbeat economic news. ... |
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6
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Paulson abandons plans to buy up America's toxic mortgage assetsThe US government has scrapped the central plank of its $700bn financial rescue strategy by abandoning plans to buy toxic mortgage-related assets which have weighed down the balance sheets of troubled banks and Wall Street institutions.In a sharp about-turn, treasury secretary Henry Paulson announce ... |
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To the barricadesMatt Welch - author of a recent fine study of John McCain - has this to say about the recent cave-in by so-called conservatives to calls for a massive bailout of failed businesses and banks: In June I read what I thought I'd never see again: a mainstream column, by a mainstream columnist... |
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Fed dumps toxic mortgage assets, Dow dropsA disheartened Wall Street has suffered its third straight loss, as investors absorbed more dismal corporate reports and news that the government won't buy banks' soured mortgage assets after all. ... |
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Raging rivers escape banksSNOQUALMIE -- Residents of this river-front community frantically raced to sandbag their town and homes Wednesday as the Snoqualmie River surged to a "dangerous" phase-four flood level. ... |
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