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Treasury, Fed move to strengthen money market funds

Posted: 09/19/2008 - The Treasury Department and the Federal Reserve have come up with separate actions designed to shore up the nation's 2 trillion dollars of assets in money market funds.

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Stocks hold gains as Paulson speaks about plan

Posted: 09/19/2008 - Wall Street is holding on to most of its gains after Treasury Secretary Paulson addressed the nation about a plan to relieve banks of their bad debts and restore the credit markets to health.

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Paulson: Fannie, Freddie to buy more mortgages

Posted: 09/19/2008 - Treasury Secretary Henry Paulson says mortgage giants Fannie Mae and Freddie Mac will step up their purchases of mortgage-backed securities to help provide support to the crippled housing market.

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No rise in monthly Medicare premiums for 2009

Posted: 09/19/2008 - The government says monthly Medicare premiums will hold steady at $96.40 next year. It's the first time since 2000 that the charge for health coverage is not increasing.

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Multiple quick fixes tried for US financial crisis

Posted: 09/19/2008 - Treasury Secretary Henry Paulson says the bold approach needed to take troubled assets off the books of financial organizations will be expensive but doing nothing would cost far more.

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Todd: Economic downturn can't stall UK's goal

Posted: 09/18/2008 - University of Kentucky president Lee Todd says the state's flagship institution needs to continue with its top 20 business plan despite tough economic times.

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AP Source: US weighing financial crisis plans

Posted: 09/18/2008 - The government is weighing a number of options to ease one of the worst financial crisis that has hit this country in decades, according to a person with knowledge of the talks.

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49 platforms destroyed by Ike

Posted: 09/18/2008 - The Interior Department says at least 49 offshore oil or natural gas production platforms in the Gulf of Mexico were destroyed by Hurricane Ike, and some may not be rebuilt.

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US to help solve Nagorno-Karabakh conflict

Posted: 09/18/2008 - The United States will work harder to help settle a 20-year territorial conflict between the ex-Soviet republics of Azerbaijan and Armenia, a U.S. diplomat said Thursday.

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Banks, Wall Street firms borrow more from Fed

Posted: 09/18/2008 - Banks and Wall Street firms ramped up borrowing from the Federal Reserve's emergency lending facility over the past week, a fresh sign of the credit stresses plaguing the country.

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NJ Assembly speaker pushes economic summit idea

Posted: 09/18/2008 - New Jersey Assembly Speaker Joseph Roberts Jr. is pushing for lawmakers to hold an emergency economic summit to weigh what can be done to help Garden State residents affected by the crisis on Wall Street.

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Eastern NC town is lengthening airport runway

Posted: 09/18/2008 - Paving has started to lengthen the runway at the town of Plymouth's airport so it can accommodate executive jets as the eastern North Carolina town tries to attract business.

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Wall Street rallies, Dow ends up more than 400 points

Updated: 09/18/2008 - It was a dramatic late-session recovery for stocks after a report that the federal government is considering creation of a new entity to take over banks' bad debt. The idea, said to be considered by Treasury Secretary Henry Paulson, is being likened to the Resolution Trust Corporation used in response to the S&L failures in the 1980s.

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FTC warns of bogus cancer cures

Posted: 09/18/2008 - The Federal Trade Commission has charged five companies with making false and misleading claims for cancer cures. The FTC said Thursday that it has also reached settlements with six others.

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New York Sen. Schumer to offer banks a deal

Posted: 09/18/2008 - Sen. Charles Schumer plans to offer a broad economic proposal for the government to offer a financial lifeline to those banks that are willing to renegotiate mortgages for those on the brink of losing their homes.

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