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Wall Street rallied in a stunning late-session turnaround Thursday, shooting higher and hurtling the Dow Jones industrials up 400 points following a report that the federal government might create an entity to absorb banks’ bad debt. The report also cooled investors’ fervor for safe investments like government debt that were in demand for much of the day.
Credit report mistake: Largo Woman Faces Thousands in Unpaid Debts (First Coast News)
LARGO, FL — A Largo woman says she’s spent countless hours and hundreds of dollars trying to clean up her credit that was at one time spotless.
Berl says credit the issue (TVNZ)
Interest rate cuts now may have little impact because the issue globally is the availability of credit not the price of credit, says Berl in its latest forecast report.
Gold surges, pulls back in response to credit news (Washington Post)
NEW YORK — Gold briefly shot above $900 an ounce Thursday as panicky investors poured money into safe-haven assets, but the metal later gave back its gains on a report that the government may move more aggressively to steady the teetering financial system.