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Oil Declines a Third Day as Greek Referendum Raises Default Risk Oil Declines a Third Day as Greek Referendum Raises Default Risk

The following is an excerpt from Mark Shenk and Moming Zhou | November 1, 2011 | Washpost.bloomberg.com | Nov. 1 (Bloomberg) -- Oil fell for a third day after Greek Prime Minister George Papandreou’s pledge to hold a referendum raised the prospect of the failure of Europe’s bailout plan. Futures dropped as much as 4.3 percent after Greece’s decision to call a vote on its five-day-old bailout sent equities and the euro lower. Crude climbed 6.8 percent last week, the biggest gain ... Read More

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U.S. Approaches $15 Trillion Debt Limit U.S. Approaches $15 Trillion Debt Limit

The following is an excerpt from Matthew Jaffe | November 4, 2011 | abcnews.go.com It will be the latest sobering economic milestone that few were hoping to see: The U.S. national debt – any day now – will soar above the $15 trillion mark. As of this writing, the total debt is $14.97 trillion, so moving beyond the symbolic $15 trillion is a foregone conclusion. When the unwelcome milestone is reached, it will come at a volatile time both in this country ... Read More

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Oil Climbs to Three-Month High After Report of U.S. Supply Drop Oil Climbs to Three-Month High After Report of U.S. Supply Drop

The following is an excerpt from Mark Shenk | November 9, 2011 | washpost.bloomberg.com (Bloomberg) -- Oil climbed to a three-month high in New York after the U.S. Energy Department reported an unexpected decline in crude inventories and tumbling fuel stockpiles. Futures rose for a sixth day as the report showed a 1.37 million-barrel crude supply drop last week. Stockpiles were forecast to grow 500,000 barrels, according to the median of 13 analyst estimates in a Bloomberg News survey. Fuel inventories fell ... Read More

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Euro Zone Agrees to Lend Spain Up to 100 Billion Euros Euro Zone Agrees to Lend Spain Up to 100 Billion Euros

The following is an excerpt from Jan Strupczewski and Julien Toyer | June 10, 2012 | reuters.com | (Reuters) - Euro zone finance ministers agreed on Saturday to lend Spain up to 100 billion euros ($125 billion) to shore up its teetering banks and Madrid said it would specify precisely how much it needs once independent audits report in just over a week. After a 2 1/2-hour conference call of the 17 finance ministers, which several sources described as heated, the Eurogroup ... Read More

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Has Britain Recovered or Simply Faked a Recovery? Has Britain Recovered or Simply Faked a Recovery?

The following is an excerpt from PATRICK SMITH, The Fiscal Times | October 29, 2012 | Thefiscaltimes.com | Two recession strategies are competing ever more openly in Europe—two growth models and two economic philosophies that Americans should watch carefully. Just as the choice ahead could change the map of the European Union so could the election on November 6 change the course of the United States. At the end of last week Britain surprised everyone—even the government, it seems—when it announced third-quarter ... Read More

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Government to Pay Banks to Sell Shares of Bailed Out GM Government to Pay Banks to Sell Shares of Bailed Out GM

The following is an excerpt from cbsnews.com | January 16, 2013 | DETROIT The U.S. Treasury Department has hired JPMorgan (JPM) Securities and Citigroup (C) Global Markets to sell its remaining stake in General Motors (GM) and bring an end to almost four years of partial government ownership of the car maker. The government, which got its stake in a $49.5 billion bailout of the company in 2009, still holds 300 million shares of GM common stock, giving it 19 percent of ... Read More

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Auto Industry Bailout an Impressive Success: Report Auto Industry Bailout an Impressive Success: Report

The following is an excerpt from BEN KLAYMAN | December 9, 2013 | Thefiscaltimes.com | The federal bailout of General Motors Co (NYSE: GM), Chrysler and parts suppliers in 2009 saved 1.5 million U.S. jobs and preserved $105.3 billion in personal and social insurance tax collections, according to a study released on Monday. The Bush and Obama administrations loaned the auto industry, including GM and Chrysler, which is now controlled by Italy's Fiat, $80 billion to avoid the collapse of the industry ... Read More

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