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10 Banks Form $70B Fund to Stave Off Crash

Paulson brokers twin public-private liquidity measures

(Newser) - Ten of the world's largest banks have formed a massive liquidity fund to mitigate the effects of the Lehman Brothers meltdown, reports the Financial Times. All the investment banks will be able to borrow up to a third of the $70 billion fund in order to reduce volatility and stay... More »

Bush Caves On Iraq Benchmarks

Democrats renew insistence on stick to accompany carrot

(Newser) - In an abrupt about-face, President Bush said today he will negotiate with Congress about including benchmarks for the Iraqi government in war-spending legislation. With discontent mounting on both sides of the aisle, he emerged from a Pentagon briefing on Iraq and Afghanistan and said, "It makes sense to have... More »

Bush Will Veto New Iraq Bill

(Newser) - President Bush will veto a second proposed Iraq appropriations blll, the White House said today, dashing hopes for an agreement on the controversial measure. The new bill, which House Dems unveiled yesterday, requires the President to report to Congress on Iraq's progress in order to receive full funding for the... More »

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