Federal Reserve announces it will alter formulas used to determine interest rates paid to depository institutions on required reserve balances and excess reserve balances - Released by the Board of Governors of the Federal Reserve System  
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Obama could start work on economy before inauguration - President-elect Barack Obama may not wait until inauguration day to start […]

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Regulators owe WaMu shareholders explanation - BILL VIRGIN - … They’re keeping their hopes alive through existing message boards as well as a Web site and campaign organized under an unpleasant name that probably hurts the cause more than helps it — wamurape.org. … - Seattle Post Intelligencer
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Countries Cutting Income Taxes to Remain Competitive […]

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Bay area housing starts down 81% from 2006 - James Thorner - … Builders started just 1,155 homes in the third quarter that ended Sept. 30. That’s 81 percent down from the peak of 6,162 housing starts in the first quarter of 2006.  …  -  St. Petersburg Times 
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Fifteen Notes on the Markets - David Merkel […]

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Ex-Fannie Mae chief wishes he said “no” more often: report -  Former Fannie Mae Chief Executive Daniel Mudd wished he said “no” to more of the things the company was asked to do, he told the Wall Street … “I should have gone to the government and gotten a clear answer to the question: What […]

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Senior Lending Network Suspends Proprietary Reverse Mortgage Products-  … for its Equity Plus Advantage and Simple 60 for the next 60 days.  … According to the email, the SLN saw its volume of new submissions increase much more than expected and has exceeded the mandated allowable threshold on KBC’s balance sheet. - Reverse Mortgage Daily
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Banks […]

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BIG BROTHER SECTION:

Federal Reserve, Banco Central do Brasil, Banco de Mexico, Bank of Korea, and Monetary Authority of Singapore announce the establishment of temporary reciprocal currency arrangements 
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Fed Cuts Rates by Half Point Amid Economic Deterioration  -  JON HILSENRATH, JOELLEN PERRY and TAKESHI TAKEUCHI -   WSJ.com 
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Press Release - The Federal Open Market Committee decided today to […]

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