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EU OKs new financial supervision deal

European Union nations agreed to create new financial oversight institutions Tuesday, hoping to prevent a repeat of the government debt crisis that nearly left Greece bankrupt and brought the European banking system to its knees. See more here: EU OKs new financial supervision deal

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Preparing Finances for Chapter 7

The decision to file for bankruptcy is most likely the best option for those struggling with high amounts of debt. Many people are currently in danger of losing their homes, their cars, and their pride. Luckily, the government does provide some relief for individuals living with these hardships. More: …

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Report: Blackwater Created Shell Companies

The report Friday night on the newspaper’s website says Sen. Carl Levin, chairman of the Senate Armed Services Committee, has asked the Justice Department to see whether Blackwater misled the government when using the subsidiaries to gain government contracts. E-Mail This Add to Del.icio.us Visit link: …

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August Jobs Report A Bit Better Than Expected

The Labor Department released its latest jobs report Friday morning, and the losses aren’t as bad as had been expected. The unemployment rate for August creeped up to 9.6 percent, a tenth of a percent increase from the previous month. Private employers added jobs, but the government lost some. …

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Fed Has Tools If Economy Weakens, Bernanke Says

The U.S. economy grew even more slowly during the second quarter than the government first thought, according to a Commerce Department report out Friday. U.S. GDP grew at an annual rate of 1.6 percent; the earlier estimate was 2.4 percent. Meanwhile, at a gathering of central bankers in Jackson …

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Has FEMA Recovered From Hurricane Katrina?

Hurricane Katrina and the subsequent humanitarian disaster in New Orleans focused an uncomfortable spotlight on FEMA, the Federal Emergency Management Agency. FEMA became a lighting rod for criticism of the government’s lackluster response to the disaster. Five years later, FEMA has undergone some changes. E-Mail This …

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Bond Giant Urges Housing Stimulus

Banking executives said they want the government to keep a big role in the mortgage market, and Bill Gross, managing director of bond giant Pimco, said the economic recovery required more stimulus, particularly in housing. He suggested automatic refinancing of millions homes backed by mortgage giants Fannie Mae and …

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Permanent fix on hold for ruptured Gulf oil well

The permanent stifling of the ruptured Gulf of Mexico oil well won’t start until the latest potential problem is evaluated, Thad Allen, the government’s point man in the Gulf, said Monday. Read more here: Permanent fix on hold for ruptured Gulf oil well The Portland, Oregon bankruptcy attorneys and …

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La. Locals Worry Coast Guard Will LeaveToo Soon

Ret. Adm. Thad Allen met Friday with Louisiana’s parish presidents to discuss clean-up efforts on the state’s coastline. Some local officials are suspicious of the government’s claim that most of the oil that leaked in the BP oil spill has been cleaned up or broken down by dispersants. They …

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Officials Try To Calm Fears In Spill Aftermath

The Obama administration is trying to turn a corner on its response to the oil spill in the Gulf of Mexico. BP reached a milestone last week when it achieved a static kill of the blown-out well. And the government is touting a new report that indicates the impact …

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