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  August 12, 2010, 1:30 pm

Bush to speak at October conference on lending

By Jay Heflin

President George W. Bush is slated to speak at the Commercial Finance Association's (CFA) 66th Annual Convention that will run October 20 thru 22.  

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Archived under: Economy
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  August 12, 2010, 12:45 pm

Brown calls for crackdown on China manipulating its currency

By Jay Heflin

Sen. Sherrod Brown (D-Ohio) has called on Congress to do something about China manipulating its currency after it was reported on Wednesday that the U.S. trade deficit with the Asian country widened to more than $26 billion in June, the largest imbalance since October 2008. 

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Archived under: Economy
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  August 12, 2010, 12:00 pm

CPAs bearish on the economy, poll finds

By Jay Heflin

By a two-to-one margin, expectations of certified public accountants (CPAs) serving C-suite executives have turned sharply negative on the economy as high unemployment and the tight credit market persist, according to a new poll by the American Institute of Certified Public Accountants (AICPA) and the University of North Carolina's Kenan-Flagler Business School. 

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Archived under: Economy
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  August 12, 2010, 10:45 am

Business travel worst since September 11th

By Jay Heflin

A report by NBTA shows global business travel dropped 8.8 percent in 2009, the worst decline since 9/11.

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Archived under: Economy
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  August 12, 2010, 10:44 am

Mortgage rates drop to record low

By Vicki Needham

Mortgage rates dropped to their lowest levels in nearly 40 years, further lowered by the Federal Reserve's debt buying plan.

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Archived under: Banking/Financial Institutions
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  August 12, 2010, 10:23 am

Obama names panelists for housing conference

By Jay Heflin

President Obama on Thursday announced the names of panelists who will participate in the Aug. 17 conference on the future of housing finance.

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Archived under: Economy
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  August 12, 2010, 10:02 am

General Motors reports profits, but spike in jobless claims adds to gloom

By Ian Swanson

President Obama has touted GM's recovery as a success story as the economy struggles to create jobs. 

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Archived under: Economy
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  August 12, 2010, 9:00 am

Overwhelming majority to rely on Social Security in retirement

By Jay Heflin

Three-quarters of adults over the age of 18 plan to rely on Social Security, according to an AARP poll.

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Archived under: Domestic Taxes
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  August 12, 2010, 12:04 am

Watchdog: Foreign financial firms received $14B through AIG bailout

By Silla Brush

Congressional Oversight Panel finds the AIG bailout benefited Goldman Sachs, which in turn helped foreign firms doing business with Goldman.

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Archived under: Banking/Financial Institutions
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  August 12, 2010, 12:02 am

U.S. could have asked foreign countries to 'share the pain' of financial bailout

By Silla Brush

The United States could have asked foreign countries to "share the pain" of the bailout of the financial system, a government watchdog said in a report on Thursday.

In 2008, Congress voted to bail out the financial system with $700 billion, but more of that money went to financial firms based abroad than money from other countries wound up helping U.S. firms, the Congressional Oversight Panel report concluded.

"America's rescue had a much greater impact on other nations than their rescue programs had on the United States," the panel's chairwoman, Elizabeth Warren, told reporters late on Wednesday. "If the U.S. had gathered more information on the flow of rescue funds, it could have asked other countries to share the pain."

The report said the U.S. effort focused on flooding as much money into as many banks as possible, but that foreign countries designed their efforts more narrowly toward institutions that often did not have major U.S.-based arms.

Archived under: Banking/Financial Institutions
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