Associated Press - Thu Jan 14, 2010
WASHINGTON - President Barack Obama told banks Thursday they should pay a new tax to recoup the cost of bailing out foundering firms at the height of the financial crisis. More...
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Associated Press - Sat Jan 2, 2010
CHICAGO - Cash-strapped communities have a message for corporations that promised jobs in return for tax breaks: A deal's a deal. More...
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GPB - Sun Dec 6, 2009
ATLANTA - Federal regulators shut down three Georgia banks yesterday. More...
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Associated Press - Sun Nov 1, 2009
NEW YORK – Dozens of banks have failed this year. More...
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Associated Press - Fri Oct 16, 2009
CHARLOTTE, North Carolina - Bank of America said Friday it lost more than $2:dot:2 billion in the third quarter as loan losses kept rising, providing further evidence that consumers are still struggling to pay their bills. More...
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Atlanta Journal-Constitution - Sat Aug 22, 2009
GEORGIA - A pile of bad real estate loans and not enough cash to cover the mounting losses - That toxic formula claimed two more small Georgia lenders on Friday: First Coweta Bank of Newnan and ebank of Atlanta. More...
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Associated Press - Fri Jul 31, 2009
WASHINGTON - Regulators on Friday shut down banks in Florida, New Jersey, Ohio and Oklahoma, boosting to 68 the number of federally insured banks to fail this year amid the pressures of the weak economy and mounting loan defaults. More...
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Associated Press - Fri Jul 24, 2009
WASHINGTON - Regulators on Friday shut six banks in Georgia and a small bank in New York state, raising to 64 the number of federally insured banks to fail this year. More...
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Associated Press - Sat May 16, 2009
WASHINGTON - It's not all doom and gloom in the US economy - Some products are bucking the recession and flying off store shelves. More...
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Atlanta Journal-Constitution - Sat Mar 7, 2009
Another small bank has failed in Georgia: Federal and state regulators on Friday seized Freedom Bank of Georgia in Commerce, the seventh Georgia bank to fail in the past seven months. More...
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AFP - Thu Mar 5, 2009
WASHINGTON - The US government is warning banks that its deposit insurance fund could go broke this year as bank failures mount. More...
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Associated Press - Tue Feb 17, 2009
Racing to reverse the country's economic spiral, President Barack Obama signed the mammoth stimulus package into law Tuesday and readied a new $50 billion foreclosure rescue for legions of Americans who are in danger of losing their homes. More...
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Associated Press - Mon Feb 2, 2009
SACRAMENTO, California - The national wave of auto dealership closures has come crashing down on thousands of people who are on the hook for used-car loans that dealers were supposed to absolve. More...
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Atlanta Journal-Constitution - Mon Jan 26, 2009
Georgia - Twenty years ago, Zella Mae Green bought a modest brick ranch house in DeKalb County with an American ideal in mind. More...
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Associated Press - Mon Jan 26, 2009
WASHINGTON - It's already been a lousy year for workers less than a month into 2009 and there's no relief in sight. More...
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Daily Mail, UK - Sun Jan 25, 2009
Britain was just three hours away from going bust last year after a secret run on the banks, one of Gordon Brown's Ministers has revealed. More...
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Associated Press - Wed Jan 7, 2009
ALBANY, New York - Electronic unemployment filing systems have crashed in at least three states in recent days amid an unprecedented crush of thousands of newly jobless Americans seeking benefits, and other states were adjusting their systems to avoid being next. More...
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Associated Press - Tue Dec 23, 2008
NEW YORK - A fund manager who lost more than $1 billion of his clients' money to Bernard Madoff was discovered dead Tuesday after committing suicide at his Manhattan office, marking a grim turn in a scandal that has left investors around the world in financial ruin. More...
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Associated Press - Mon Dec 22, 2008
Banks that are getting taxpayer bailouts awarded their top executives nearly $1:dot:6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals. More...
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Associated Press - Sat Dec 20, 2008
DETROIT - One measure of how tough times are in the Motor City: Some of the offenders in jail don't want to be released; some who do get out promptly re-offend to head back where there's heat, health care and three meals a day. More...
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CNN - Thu Dec 18, 2008
It arrived in Rich Stevens' mailbox a few weeks ago: the notice that Citibank had "rate-jacked" the Visa cards belonging to him and his wife. More...
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Associated Press - Tue Dec 16, 2008
MINNEAPOLIS - Best Buy, the nation's biggest consumer electronics retailer, said Tuesday that its third-quarter profit sank 77 percent as it faced dramatic changes in consumer spending. More...
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BBC - Tue Dec 16, 2008
US financial giant Goldman Sachs has reported a $2:dot:12bn quarterly loss, its first since the investment bank went public in 1999. More...
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Fox - Sat Dec 13, 2008
ATLANTA - The Georgia Department of Banking and Finance announced Friday that it will shut down Haven Trust Bank. More...
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Associated Press - Tue Dec 9, 2008
WASHINGTON - From a hefty lobbying budget to the use of free baseball tickets, Freddie Mac fended off any meaningful regulation in the years before the housing mortgage giant crashed, records obtained by The Associated Press show. More...
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Associated Press - Mon Dec 8, 2008
NEW YORK - Tribune Company - owner of the Los Angeles Times, Chicago Tribune, Baltimore Sun and other dailies - filed for Chapter 11 bankruptcy Monday, the first major newspaper publisher to take such a step since the Internet plunged the industry into a desperate struggle for survival. More...
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Associated Press - Tue Dec 2, 2008
WASHINGTON - Ford Motor Company is asking Congress for a $9 billion "stand-by line of credit" to stabilize its business, but says it doesn't expect to tap it. More...
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Associated Press - Tue Dec 2, 2008
WASHINGTON - It's official - The US economy has been in a recession for the past year. More...
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Associated Press - Mon Nov 10, 2008
FRANKFURT, Germany - Deutsche Post AG will close all of its DHL Express service centers, cut 9,500 jobs in the United States and eliminate US-only domestic shipping by land and air, the company said Monday, citing heavy losses and fierce competition. More...
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Associated Press - Thu Oct 23, 2008
WASHINGTON – Badgered by lawmakers, former Federal Reserve Chairman Alan Greenspan denied the nation's economic crisis was his fault on Thursday but conceded the meltdown had revealed a flaw in a lifetime of economic thinking and left him in a "state of shocked disbelief". More...
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Washington Post - Tue Oct 14, 2008
The US government is dramatically escalating its response to the financial crisis by planning to invest $250 billion in the country's banks, forcing nine of the largest to accept a Treasury stake in what amounts to a partial nationalization. More...
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Bloomberg - Sat Oct 11, 2008
Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they "rewrite the rules of international finance. More...
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Associated Press - Thu Oct 9, 2008
The Bush administration is considering taking ownership stakes in certain US banks as an option for dealing with a severe global credit crisis. More...
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CNN - Wed Oct 8, 2008
The demand for unemployment benefits across the country has put a strain on state unemployment funds, with such funds in at least 10 states facing insolvency in 2009, according to a policy group. More...
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Associated Press - Tue Oct 7, 2008
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. More...
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Atlanta Business Chronicle - Mon Oct 6, 2008
Federal regulators told Wachovia Corp the bank would be seized unless it reached a merger agreement with Citigroup or Wells Fargo by end of day Friday, October 3, according to a suit filed by Wachovia this weekend in federal court. More...
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Associated Press - Mon Oct 6, 2008
AKRON, Ohio - Mortgage finance company Fannie Mae said it is forgiving the mortgage debt of a 90-year-old woman who shot herself in the chest as sheriff's deputies attempted to evict her. More...
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Associated Press - Fri Oct 3, 2008
NEW YORK - In an abrupt change of course, Wachovia said Friday it agreed to be acquired by Wells Fargo in a $15:dot:1 billion all-stock deal, wiping out Wachovia's previous plan to sell its banking operations to rival suitor Citigroup Inc. More...
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Associated Press - Mon Sep 29, 2008
WASHINGTON - In a vote that shook the government, Wall Street and markets around the world, the House on Monday defeated a $700 billion emergency rescue for the nation's financial system, leaving both parties' lawmakers and the Bush administration scrambling to pick up the pieces. More...
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Wall Street Journal - Mon Sep 29, 2008
Citigroup Inc will acquire the banking operations of Wachovia Corporation; Charlotte, North Carolina, in a transaction facilitated by the Federal Deposit Insurance Corporation and concurred with by the Board of Governors of the Federal Reserve and the Secretary of the Treasury in consultation with the President. More...
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