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Stocks Drop Worldwide, Treasuries Gain on Concern About Economy

http://www.bloomberg.com

Stocks slid worldwide, sending the Dow Jones Industrial Average below 7,000 for the first time since 1997, and Treasuries rose after Warren Buffett said the economy is in “shambles” and American International Group Inc. posted the largest corporate loss in U.S. history. Berkshire Hathaway Inc. fell 4.7 percent following the worst drop in book value in Buffett’s career at the company. Citigroup Inc. tumbled 20 percent as AIG posted a $61.7 billion quarterly loss and HSBC Holdings Plc said it needs to raise capital, triggering the worst plunge in U.K. banks since at least 1985. Exxon Mobil Corp., the world’s biggest company by market value, fell as oil slid 10 percent. General Electric Co. sank below $8 for the first time since 1994.

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Created by Dr Who 4 years 19 weeks ago – Made popular 4 years 19 weeks ago

Category: Business   Tags:
2

Geithner Remarks on Financial Stability Plan

http://blogs.wsj.com

The financial system is central to this process. Banks and the credit markets transform the earnings and savings of American workers into the loans that finance a first home, a new car or a college education. And this system provides the capital and credit necessary to build a company around a new idea.

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Created by Dr Who 4 years 22 weeks ago – Made popular 4 years 22 weeks ago

Category: Business   Tags:
2

USD and JPY higher bank bailout plan disappoints

http://mediaserver.fxstreet.com

USD and JPY traded higher initially supported by a fresh spike in risk aversion sparked by news that Russia may reschedule some of its corporate debt and a CNBC report which suggests that the bad bank plan may be left out of today’s announcement of the Obama financial stabilization plan.

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Created by Dr Who 4 years 22 weeks ago – Made popular 4 years 22 weeks ago

Category: WorldNews   Tags:
2

Goldman Sachs CFO seeks to repay TARP funds

http://news.yahoo.com

Goldman Sachs Group Inc (GS.N) Chief Financial Officer David Viniar said the bank is keen to avoid restrictions it agreed to after receiving funds from the U.S. government late last year and it is looking to pay the money back as soon as possible.

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Created by Dr Who 4 years 22 weeks ago – Made popular 4 years 17 weeks ago

Category: Business   Tags:
2

Agency Mortgage-Backed Securities Purchase Program

http://www.newyorkfed.org

Transactions in agency MBS by investment managers acting as agents for the System Open Market Account (SOMA).

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Created by Dr Who 4 years 22 weeks ago – Made popular 4 years 17 weeks ago

Category: Technology   Tags:

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