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JP Morgan Agrees to Buy Bear Stearns
JP agreed to pay just $236 million for the firm, a figure that includes the price of Bear’s soaring headquarters on Madison Avenue in Manhattan. At $2 a share -
Lehman Brothers
The Lehman Brothers filed for bankruptcy. They filed with $619 billion dollars in debt. The Lehman Brothers bankruptcy was the largest in history. -
Congress Rejects $700 Billion Wall Street Financial Package
-Stock markets plunged as it appeared that the measure would go down to defeat, and kept slumping
-Oil prices fell steeply on fears of a global recession
- the bill would cause too much damage for the market -> couldn’t risk the negative outcome -
United States and India Discuss Key Trade Terms
- For instance, U.S. goods trade with China, a country with a comparable population, was over $560 billion in 2013—almost nine times U.S. trade with India. -In 2013, India was the 18th largest goods market for the U.S. That year, total India-U.S. trade was $96.7 billion, up over 400 percent from $23.9 billion in 2003. Of this total, U.S. exports to India were $35.7 billion and imports were $61 billion, producing a bilateral trade deficit of $25.4 billion in 2013, up from a deficit of $6.3 bill.
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U.S Trade Deficit Falls 7.4% to 41.9% in July
-mainly because of lower imports such as cell phones and pharmaceutical products
-Exports rose 0.4% to $188.5 billion in July, marking the first increase in three months -
Fiscal Budget
-The Budget achieves about $1.8 trillion in deficit reduction, primarily from reforms to health programs, our tax code, and immigration.
-improves education, child care, cut taxes, and improving oppurtunities.
