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Anthony Wayne

http://www.bingohouse.com Anthony Wayne is marketing manager for Curacao-based BingoHouse. Wayne is also an avid internet bingo player and has been playing online bingo for almost ten years.
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On Wednesday Britain announced a 1.23 trillion dollar rescue package that included part nationalization of eight of Britain's largest banks. Immediately after the UK bailout was announced the Bank of England announced an interest rate cot of 0.5%.

The Economic Crisis-A Chronology

The current financial crisis has been years in the making and the crisis is the product of years of reckless and irresponsible behavior by both government and financial institutions.

World Stock Markets Remain Volatile

Stock markets remain volatile with investors unsure whether the market has bottomed out or will decline even further.

An Astounding Display of Hubris

In an astonishing display of hubris, executives at insurance AIG headed to a $440.000 retreat at one of the nations most luxurious resorts. The retreat was held less than a week after the Federal Government offered an $85 billion dollar bailout to the insurance giant.

The 2008 US Election and the Economy

In addition to the recent financial and banking crisis in the US the country faces unprecedented debt and massive job losses. The US economy has been shedding jobs at an alarming rate.

Stock Markets Still Volatile

New York stock markets showed positive gains as the lowest oil prices in more than a year inspired investor confidence. The Dow rose 240 points having been down as much as 380 points in the late morning.

IMF Meets In Washington

Last week's meeting of the International Monetary Fund (IMF) was attended by the world's financial leaders who are putting aside political differences in order to stave off a global recession.

World Banks Cut Rates

Following the lead of the US Federal Reserve, central banks around the world announced rate cuts designed to lift the global economy in the face of a recession.

Euro Rises on Forex Market

Following an announcement of a coordinated European bank rescue plan the Euro rose against the Dollar. It is thought by some economists that the European rescue plans have reduced the dollar's attractiveness as a safe haven.

Investor Confidence and the Bailout

The recently passed $700 billion dollar bailout which was supposed to rebuild economic confidence instead triggered massive sell offs in global markets. Investors feared that the plan was too little and too late.

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