Obama faces uphill battle to overhaul financial system 11/17/2008
WASHINGTON - Barack Obama isn't president yet, but his must-do list just got longer.
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Union chief: Don't blame us for crisis 11/16/2008
COLUMBUS, Ohio - Even as Detroit's Big Three teeter on collapse, United Auto Workers President Ron Gettelfinger said Saturday that the problem is not the union's contract with the automakers and that getting the automakers back on their feet means figuring out a way to turn around the slumping economy.
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Bush defends bailout actions 11/16/2008
WASHINGTON - President George W. Bush, closing an emergency economic summit, said Saturday that decisive action had been required in recent weeks to save the United States from possibly falling into "a depression greater than the Great Depression."
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Investors get used to stock shocks 11/16/2008
CHICAGO - During the darkest days of the stock market's slide last month, Jack Bass withdrew stock from his retirement accounts and literally felt sickened by what was happening.
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Iran wants OPEC cuts 11/16/2008
TEHRAN, Iran - Iran called on OPEC on Saturday to cut production by a further 1 million to 1.5 million barrels per day when it meets in Cairo later this month, state television's Web site reported Saturday.
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Last call for automakers 11/15/2008
WASHINGTON - It is the last call for a multibillion-dollar bailout from Congress, and U.S. business and labor groups are eagerly lining up for their share.
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World financial summit opens 11/15/2008
WASHINGTON- World leaders launched extraordinary summit talks Friday on the economic crisis gripping the globe - searching for ways to limit the current carnage and prevent future calamities. President George W. Bush declared that "billions of hardworking people are counting on us," but the summit's results were likely to be modest.
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Wall Street ends turbulent week with lows 11/15/2008
NEW YORK - Wall Street ended a turbulent week with another astonishing show of volatility Friday, with stocks plunging, recovering and then plunging again as investors absorbed another wave of downbeat economic news. The Dow Jones industrials fell almost 340 points and the major indexes all fell sharply for the second straight week.
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Lawmakers blast shifts in rescue plan 11/15/2008
WASHINGTON - Lawmakers complained Friday that the Bush administration is ignoring the will of Congress and slighting homeowners on the verge of foreclosure in its latest approach to spending $700 billion in economic rescue money.
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President asserts position 11/14/2008
NEW YORK - President George W. Bush asserted Thursday that the global financial crisis is "not a failure of the free market" and urged world leaders to adopt modest financial reforms that stop short of the tighter regulations Europeans favor.
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