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News Source: Pittsburgh Post-Gazette
| about 1 year ago
As Americans focus on the impact on their own lives of the years of financial deregulation policies pursued by the Bush administration, it is easy to lose sight of the profound effects overseas. Some of the trouble that banks, other financial...
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News Source: Turkish Press
| about 1 year ago
While governments worldwide have not yet agreed on a solution to fix the current global economic crisis, nearly all agree on the cause of the problem: the large bonuses awarded to executives. Bankers' bonuses have come under scrutiny as taxpayers...
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News Source: Contra Costa Times
| about 1 year ago
Orders for new cars have fallen dramatically, which means that auto companies are laying off workers. Those workers have less money to spend, affecting other businesses — and the problem just keeps getting worse. If there are few loans and little...
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News Source: Wellington Dominion
| about 1 year ago
The United States looks set to start backing up American banks with cash injections ahead of a G7 meeting of economic powers trying to stave off world financial ruin. The US Treasury Department plans to start directly injecting capital in US banks...
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News Source: United Press International
| about 1 year ago
Treasury Department said it is considering a plan of buying bank shares to restore confidence in lending...The original focus for the Treasury was purchasing frozen, hard-to-value security assets, not directly purchasing bank shares. The plan emerged...
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News Source: Miami Herald
| about 1 year ago
Guarantee or ''backstop'' all short-term commercial paper and three-month swaps, a move taken by the Federal Reserve Tuesday. Commercial paper is the short-term debt issued by corporations. Recapitalize financial institutions by buying up ''...
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News Source: Houston Chronicle
| about 1 year ago
Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many U.S. banks to try to restore confidence in the financial system, according to government officials. Treasury...
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News Source: CCTV
| about 1 year ago
Wall Street slid for a six consecutive session on Wednesday as the global coordinated rate cut failed to ease investors' worries over U.S. economic condition. Initially the market gained on the news that the Federal Reserve and six other major...
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News Source: Press TV
| about 1 year ago
Paulson stressed the 700-billion-dollar legislation approved by Congress on Friday was designed to dampen financial market disruption when a bank fails. On stabilizing the crisis-hit financial system, Paulson suggested including emerging countries in...
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News Source: Kyodo News
| about 1 year ago
Treasury Secretary Henry Paulson said Wednesday the Group of Seven major industrial nations will continue to work together closely to grapple with the widening financial market crisis facing the world, following the latest joint credit easing by the...