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JPMorgan Chase to cut 9,200 WaMu jobs
1. December 2008
JPMorgan Chase said Monday it plans to lay off 9,200 employees at Washington Mutual, the failed savings and loan that the New York City-based banking giant bought in September.
Continue reading...Bernanke: Economic weakness to continue
1. December 2008
Federal Reserve Chairman Ben Bernanke said on Monday that the nation's economic weakness will persist for some time, even if the government's efforts to boost lending help restore the credit markets to normal.
Continue reading...Dow plunges 680 points
1. December 2008
Stocks got hammered Monday, as investors bailed out on confirmation that the U.S. is in a recession and indications that it's likely to continue for some time.
Continue reading...Paulson: Feds to expand rescue
1. December 2008
The federal government is reviewing applications from hundreds of banks seeking rescue funding and is "actively" developing new programs to right the nation's unsettled financial system, Treasury Secretary Henry Paulson said Monday.
Continue reading...Cyber Monday starts online shopping season
1. December 2008
The online holiday shopping season unofficially began Monday, with analysts expecting a flat performance versus last year in the face of the weak U.S. economy.
Continue reading...Dollar mired in economic woes
1. December 2008
The dollar gained against the euro and the British pound Monday after a slew of dismal economic reports and official word that the U.S. economy has been in a recession since December 2007.
Continue reading...It’s official: Recession since Dec. ‘07
1. December 2008
The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy .
Continue reading...N.Y. Fed begins new president search
1. December 2008
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1. December 2008
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