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This Story Stocks Plunge as Crisis Intensifies Article | The Federal Reserve and Treasury Department struggled yesterday to contain the fallout from an upheaval among the country's largest investment banks as they moved on to their next challenge -- engineering a $75 billion private rescue of the nation's largest insurance company. This Story No Bailout: Feds Made New Policy Clear in One Dramatic Weekend Article | When Treasury Secretary Henry M. Paulson Jr. flew to New York Friday evening, he brought only one change of clothes. And he planned to send a simple message to the powerbrokers of the financial world: No government bailouts would be offered to Wall Street. This Story Fed Leaves Key Rate Unchanged Article | The Federal Reserve yesterday elected to leave the interest rate it controls unchanged, rebuffing calls to bolster the economy at a time of global turmoil in financial markets. |
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Related Financial Meltdown Worsens Food CrisisSHANGHAI -- As shock waves from the credit crisis began to spread around the world last month, China scrambled to protect itself. Among the most extreme measures it took was to impose new export taxes to keep critical supplies such as grains and fertilizer from leaving the country. Dashed Corporate Earnings Send Markets Down Again
Stocks tumbled in another dismal day of trading yesterday as poor corporate earnings sapped investor confidence, despite oil prices reaching a new low for the year. |
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