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Economic Collapse

Libor Surges Most on Record After U.S. Congress Rejects Bailout Bloomberg.com: Worldwide

The London interbank offered rate, or Libor, that banks charge each other for such loans climbed 431 basis points to an all-time high of 6.88 percent today

Fed Pumps Further $630 Billion Into Financial System Bloomberg.com: Worldwide

The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. The Term Auction Facility, the Fed's emergency loan program, will expand by $300 billion to $450 billion. The European Central Bank, the Bank of England and the Bank of Japan are among the participating authorities.

Stocks tumble as bailout plan fails in House - Yahoo! News

NEW YORK - Wall Street's worst fears came to pass Monday, when the government's financial bailout plan failed in Congress and stocks plunged precipitously — hurtling the Dow Jones industrials down nearly 780 points in their largest one-day point drop ever.

FDIC May Need $150 Billion Bailout as Local Bank Failures Mount Bloomberg.com: Special Report

Deborah Horn tugs on the handle of the glass-paned entrance of the IndyMac Bancorp Inc. branch in Manhattan Beach, California. The door won't budge. The weekend is approaching, and Horn, 44, the sole breadwinner in a family of three, needs cash.

Worst is yet to come, investment strategist warns - MarketWatch

Jeffrey Gundlach, chief investment officer at Los Angeles-based mutual-fund company TCW Group Inc., told clients on a conference call late Wednesday that the crisis in credit and housing may not abate for several years and is actually getting worse.

Central banks flood credit markets with liquidity - MarketWatch

In an unexpected announcement timed to coincide with the start of the European trading day, the Federal Reserve said it would use existing and new swap lines to provide major central banks with an additional $180 billion to be injected into money markets through overnight and other short-term loans.

World markets continue to slide amid U.S. woes - CNN.com

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