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U.S. Politics


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U.S. working on new lending programs: Paulson

WASHINGTON, Dec. 1, 2008 (Reuters) — Treasury Secretary Henry Paulson said on Monday the government was working on new programs to stimulate lending and expressed impatience that banks were not making more credit available. ...  > full story

Oil drops 9 percent to $49 as OPEC defers cuts

NEW YORK, Dec. 1, 2008 (Reuters) — Oil plunged more than 9 percent to $49 a barrel on Monday after OPEC deferred a decision on new supply cuts at a meeting over the weekend. ...  > full story

Recession started in December 2007: panel

WASHINGTON, Dec. 1, 2008 (Reuters) — The U.S. economy slipped into recession in December 2007, the nation's business cycle arbiter declared on Monday, and the downturn could be the worst since World War Two. ...  > full story

UAW wants limits on carmakers' executive pay

WASHINGTON, Nov. 30, 2008 (Reuters) — The Big Three U.S. automakers should tell Congress they will limit corporate pay, bonuses and severance packages in return for government loans, the president of the United Auto Workers union said on Sunday. ...  > full story

Treasury consulting Obama team on credit plans

WASHINGTON, Nov. 26, 2008 (Reuters) — The U.S. government will need a variety of programs to deal with troubled credit markets and is open to feedback from the incoming Obama administration in developing them, a senior U.S. Treasury official said on Wednesday. ...  > full story

Banks want clarity soon on fair value accounting

WASHINGTON, Nov. 25, 2008 (Reuters) — Banks on Tuesday pleaded with regulators to immediately clarify fair value accounting rules and said failure to do so would negate the government's efforts to shore up the financial sector. ...  > full story

NY Fed moving ahead to seek Geithner replacement

NEW YORK, Nov. 25, 2008 (Reuters) — The New York Federal Reserve's board of directors is moving ahead "with prudent expedition" in finding a replacement for departing president Timothy Geithner, the head of the search committee told Reuters on Tuesday. ...  > full story

Shares fall in Europe and yen rallies broadly

LONDON, Nov. 25, 2008 (Reuters) — European stocks fell more than 1 percent on Tuesday and the low-yielding yen rose broadly as euphoria surrounding the U.S. rescue of Citigroup gave way to concerns about sharply deteriorating major economies. ...  > full story

APEC leaders commit to quick economic action

LIMA, Nov. 24, 2008 (Reuters) — The United States, China, Japan and 18 other economies in Asia and the Americas promised fast and decisive action on Sunday to prevent a severe global economic downturn. ...  > full story

CORRECTED: President-elect Obama moves to reassure market

Nov. 24, 2008 (Corrects to show that Chinese state television report did not say that the provincial investments would be an addition to a stimulus package previously announced by the central government) — U.S. President-elect Barack Obama moved to reassure an anxious world over the weekend even before he takes office, picking two respected policymakers to lead the fight against the global financial crisis and setting out his battle plan. ...  > full story
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