Borrowing Drops

Consumer borrowing fell in August for the first time in more than a decade as banks shut off access to loans and consumers cut back sharply on their use of credit.

SOURCE: | The Washington Post - Octber 8, 2008

This Story Global Rate Cuts Fail to Contain Crisis Article \| The world's central banks launched a dramatic bid Wednesday to contain the financial crisis, simultaneously cutting interest rates in 21 countries. The move sent markets fluctuating as pessimism about the world economy continued to deepen. U.S. Extends $38 Billion In New Loans to AIG RETAIL IMPACT: Make-or-Break Holiday Season Looms Large Cutting Back Pelosi Talks Stimulus Fannie, Freddie Become Hot Topic in Campaign McCain Plan Draws Doubts From Experts On Mortgages Getting a Grasp On the Crisis No Plans to Coordinate Rescue Moves at G-7, U.S. Says The $700 Billion Man With an Engineer's Mind Graphic: Changes in the Federal Funds Rate Paulson Says Global Markets Remain Strained Stocks Tumble As Rate Cuts Fail to Ease Economic Fears In bleak forecast, IMF sees major downturn Asian Markets Open With Early Gains As Anxieties Ease Europe's Stocks Plunge Despite Massive British Rescue Plan Economic Mood Darkens, and Declines Deepen Treasury Moves Quickly to Recruit Private Bailout Managers IMPACT ON WORKERS: Retirement Savings Lose $2 Trillion in 15 Months FDIC Plan Would Shore Up Fund AIG Spa Trip Fuels Fury on Hill Europeans Put Hope In Farseeing Banker E.U. Seeks A Unified Approach To Crisis Global Markets Fuel Concern Over Economy Bernanke: More Economic Pain Ahead		TOOLBOX E-Mail This Save/Share + Digg Facebook Reddit Twitter myspace SOURCE: \| The Washington Post - Octber 8, 2008 ¬es=Consumer borrowing fell in August for the first time in more than a decade as banks shut off access to loans and consumers cut back sharply on their use of credit." onclick="if ( typeof otto != 'undefined' ) { }" onmouseover="changebg2('delicious')" onmouseout="resetbg2('delicious')" target="new">del.icio.us SOURCE: \| The Washington Post - Octber 8, 2008 \'),\'newstrust\'+(new Date()).getMilliseconds(),\'dependent=no,scrollbars=yes,resizable=yes,alwaysRaised=yes,status=yes,directories=yes,location=yes,menubar=yes,toolbar=yes,width=430,height=750,modal=no\'));ntw.focus();'" onclick="if ( typeof otto != 'undefined' ) { }" onmouseover="changebg2('newstrust')" onmouseout="resetbg2('newstrust')">NewsTrust Stumble It! COMMENT 0 Comments Your browser's settings may be preventing you from commenting on and viewing comments about this item. See instructions for fixing the problem. Discussion Policy CLOSE Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post. Who's Blogging » Links to this graphic
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