Word: bankses
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The stimulus package, which could possibly be dealt with during the congressional "lame duck" session following the election - and faces longer odds in the Senate - could pour up to $150 billion into the economy in the form of massive construction projects, grants to states and additional aid for food stamps...
American humorist Josh Billings once said, "Remember the poor, it costs nothing." The quip sounds close to the apparent sentiment among G-7 economic policymakers who met in Washington over the weekend to craft measures aimed at bailing out Western banks amid the global financial crisis.
News of plans by the U.S. and European governments to inject cash into troubled banks helped propel stock markets worldwide to record gains Monday and Tuesday. For the first time in weeks investors dared to hope that the financial meltdown may be abating. But budding optimism in Europe and the...
Renewed optimism similarly reigned in Europe, where effervescent markets got a midafternoon lift from U.S. President George W. Bush's announcement of a new government plan to inject $250 billion of capital in exchange for equity into at least nine American banks. The move to further stabilize the U.S. finance...
If Monday's global rally was ascribed to weekend announcements by the G-7 and agreements by the 15 nations that use the euro to intervene in the crisis with huge financial assistance, Tuesday's repeat came as those measures were backed up by actual figures in both Europe and...