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History lessons for financial crisis: Act fast, act globally
A global financial crisis of the current magnitude is unique. But two historic events offer lessons for a way out, say economists.
Nations:France U.K. U.S. Germany People:Nicolas Sarkozy Gordon Brown Robert Zoellick Ben Bernanke Ronald Reagan Activities:2007 Global Credit Crunch 1929 Great Depression
2008-10-16
Retirement accounts have lost $2 trillion so far
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.
Nations:U.S. People:Dennis Kucinich Activities:2007 Global Credit Crunch 1929 Great Depression Source:(AP)
2008-10-07
With finance crisis, hands-off era over
Washington - The great financial shakeout of 2008 - one of the most dire US fiscal crises of modern times - is likely to change permanently the relationship between Wall Street and Washington.
People:Henry Paulson Alan Greenspan Activities:2008 AIG Crisis Merrill Lynch Sales Lehman Brothers Bankruptcy U.S. Mortgage Giant Bailout 1929 Great Depression
2008-09-17
Consumers change buying habits, but will it last?
NEW YORK - Adrienne Radtke plans to keep riding her bike to work even if gas prices drop. Steve Pizzini got rid of his Cadillac Escalade in favor of a 16-year-old Acura and doesn't expect to have another gas-guzzler.
Nations:U.S. Activities:2008 U.S. Recession 1929 Great Depression Source:(AP)
2008-07-20
Not so fast, senators tell Fed, SEC on bank pact
WASHINGTON (Reuters) - As the Federal Reserve and securities regulators neared an agreement on investment banks, leaders of the U.S. Senate Banking Committee on Friday warned them not to get ahead of Congress with any Wall Street reforms.
People:Richard Shelby Christopher Dodd Henry Paulson Activities:110th Congress 1929 Great Depression 2007 Global Credit Crunch
2008-06-27
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