How Low Can the Buck Go?
With a national debt already in excess of $9 trillion and close to another trillion likely to be added with Paulson’s rescue plan, some experts feel the combined weight of all this debt could drive the dollar to record lows.
Aussie, Kiwi Dollar Falls
The Australian and New Zealand dollars both lost to the U.S. dollar as both countries experienced a drop in export prices for the previous month.
FBI Investigating Actions of Executives
The FBI will look into the actions of executives with Fannie Mae, AIG, and Lehman Brothers to determine if shareholders were misled in the events leading up to the collapse of these corporate giants.
Not Everyone Excited About Paulson’s Plan
Despite Treasury Secretary Henry Paulson’s assertion that a delay in delivering the proposed financial bailout plan will throw the economy into even greater turmoil, high-profile resistance remains.
Buffet Buys Stake in Goldman Sachs
Warren Buffet’s purchase of a large piece of Goldman Sachs yesterday served as a voice of reason and helped lift stock markets while pushing down the price of gold.
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