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Fallout From Financial Crisis Hammers Housing

Posted: 10/19/2008 - The nation is on track to build fewer homes this year than at any time since the end of World War II, adding to the woes of an economy that analysts said Friday has almost certainly entered a recession.

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Pelosi Says Tax Rebate Unlikely Before Bush Leaves

Posted: 10/18/2008 - House Speaker Nancy Pelosi said Friday that Congress is unlikely to approve a tax rebate before President Bush leaves office, and she signaled that prospects are dim for a postelection session to pass an economic aid package.

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Dow Suffers Second-Largest Point Loss Ever

Updated: 10/15/2008 - Stocks fell sharply after economic readings raised the possibility that the country is either in a recession or moving toward one.

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NC Nonprofit Leader Walks Barefoot To Atlanta

Posted: 10/14/2008 - The founder of Samaritan's Feet charity says he's walking barefoot from Charlotte to Atlanta in an effort to put 300,000 pairs of shoes on the feet of needy children around the world.

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Bush To Announce Expanded Bank Bailout Details

Posted: 10/14/2008 - The Bush administration plans to spend an initial $250 billion of the $700 billion bailout buying stock in private banks, greatly expanding protections for the U.S. financial system out of deep concern for the faltering economy, industry and government officials said Monday night. President Bush planned to announce the details Tuesday morning.

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How Will The Markets Respond This Week?

Posted: 10/12/2008 - Investors agonizing over whether the stock market is bottoming out or about to extend its precipitous decline face more uncertainty this week.

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Vultures Circle Wall Street, But Hesitate To Feed

Posted: 10/11/2008 - When financial panic sweeps Bedford Falls in the 1946 movie "It's a Wonderful Life," the villain, Mr. Potter, moves to snap up the Bailey Bros. Building and Loan, offering a fire-sale price of 50 cents on the dollar.

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US To Buy Stake In Banks, First Since Depression

Posted: 10/11/2008 - The government will buy an ownership stake in a broad array of American banks for the first time since the Great Depression, Treasury Secretary Henry Paulson said late Friday, announcing the historic step after stock markets jolted still lower around the world despite all efforts to slow the selling stampede.

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States Cut Spending, Put Projects On Hold

Posted: 10/10/2008 - With the economy in a slide and the credit markets seized up, states are slashing budgets, eliminating jobs, putting major construction projects on hold and nervously waiting to see whether their shriveled pension funds recover.

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Wachovia Could Be Split Up

Posted: 10/08/2008 - Federal officials continued their fervent quest Wednesday to reach an agreement between Citigroup and Wells Fargo over the fate of Wachovia Corp. - which could include the splitting up of the bank.

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National Debt Clock Runs Out Of Digits

Posted: 10/08/2008 - In a sign of the times, the National Debt Clock in New York City has run out of digits to record the growing figure.

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Retirement Accounts Have Lost $2 Trillion So Far

Posted: 10/08/2008 - Americans' retirement plans have lost as much as $2 trillion in the past 15 months — about 20 percent of their value — Congress' top budget analyst estimated Tuesday as lawmakers began investigating how turmoil in the financial industry is whittling away workers' nest eggs.

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Emergency Move: Fed Will Lend To Companies

Updated: 10/08/2008 - Frantically trying to stop the bleeding on Wall Street, the Federal Reserve took a first-time step Tuesday to get cash directly to businesses and hinted that interest rates could come down soon. Stocks continued their free fall anyway and hit new five-year lows.

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