At a meeting with Congress this morning Ben Bernanke stated that the economic outlook has once again deteriorated and signaled that the central bank is ready to keep lowering rates as needed to combat economic deterioration.
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Patrick M Parkinson, the Deputty Director for the Division of Research and Statistics, spoke today regarding the problems that bond insurance companies are facing.
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Ben Bernanke spoke today at the Committee on Banking, Housing, and Urban Affairs regarding the economy.
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Wendy Topkis, the daughter of Toll Brothers co-founder and Vice Chairman Bruce Toll, is walking away from a Florida condo.
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The Senate approved a revised version of the 170 billion dollar economic stimulus package created by Bush and Congress a few weeks back.
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Investor Robert Burch filed a class action suit against Sallie Mae on Thursday, accusing the company of misleading investors about the company’s subprime mortgage exposure.
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Florida Attorney General subpoenaed Countrywide Financial today as a part of a widening investigation into subprime lending practices.
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At 2:15 PM today the Federal Reserve is expected to drop rates by a half of a point as part of an ongoing effort to combat the effects of the housing slump and credit crunch on the economy.
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The gross domestic product, which measures total goods and services output within US borders, hit a weaker than expected five year low of .6% in the fourth quarter of 2007.
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Today S&P Case-Shriller Home Price Index, which reports US home prices in 10 major metropolitan areas, fell a record 8.4 percent for 2007 through November.
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