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US Senate In Favour Of Bailout Bill

The Senate approved the revised $700 billion rescue plan designed to save the weakened US financial system. The 74 to 25 “in favour” vote means the bill now can move forward to the House of Representatives, who still have yet to decide whether or not to give the green light. The original bill, which favoured the [...]

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Washington Mutual Shut Down

In one of the largest banks to fail in US history, Washington Mutual was effectively shut down by the Office of Thrift Supervision, or OTS, before it ran out of cash. Worried depositors withdrew a massive $16.7 billion in deposits since 15 September. The OTS decided to step in before matters got worse and before selling [...]

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Tips To Beat The Credit Crunch

With the recent collapse of Lehman Brothers, Wall Street plunges, and global economic turmoil no wonder consumer and industry confidence continues to drop. Analysts predict the UK is heading toward recession, if we’re not in one already, and things will not get any better through 2009. Many people have already begun the somewhat painful pinch of [...]

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