WASHINGTON (Reuters) - The Federal Reserve on Tuesday announced it would create a special-purpose facility, with the Treasury Department's blessing, to begin buying commercial paper in yet another emergency move aimed at calming chaotic financial markets.
NEW YORK (Reuters) - Countries scrambled to slow the growing global financial crisis on Tuesday and Wall Street braced for the day after a massive sell-off, nervous about corporate earnings and hoping Fed Chairman Ben Bernanke might offer a ray of hope.
WASHINGTON (Reuters) - U.S. regulators sent a letter to American International Group Inc warning of its lack of transparency and ability to oversee its financial products in March, a top Democratic lawmaker said on Tuesday.
NEW YORK (Reuters) - Stocks fell in volatile trade on Tuesday as financial shares declined amid disappointment about a lack of coordinated interest rate cuts by global central banks.
NEW YORK (Reuters) - Bank of America Corp shares fell 15 percent on Tuesday, casting more gloom over a struggling financial sector, after reporting a sharp drop in quarterly profits and saying it needs to raise $10 billion to offset rising loan losses.
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