$7B FRAUD: Rogue trader's account raises new questions about bank oversight...
IMF Head in Shock Fiscal Warning
By Chris Giles and Gillian Tett in Davos
The intensifying credit crunch is so severe that lower interest rates alone will not be enough “to get out of the turmoil we are in”, Dominique Strauss-Kahn, the managing director of the International Monetary Fund, warned at the weekend. Continue
US mortgage crisis creates ghost town : The streets are empty. Trash rustles down the road past rusted barbecues, abandoned furniture, sagging homes and gardens turned to weed.
Chavez urges S. America to withdraw reserves from U.S. : Venezuelan President Hugo Chavez urged South American countries on Saturday to withdraw their international reserves in U.S. banks citing a looming recession faced by the world power.
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