Wall Street slides as banks fear returns loom
Wall Street fell amid a bank sector rout after Bank of America set aside 13.4 billion for loan losses while posting quarterly profit. Citigroup and Bank of America led declines, with the Dow down 289.60 points and major indexes dropping. Investors await stress test results and potential government steps as lending tightens and growth worries persist.
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IBM Corp
Sun Microsystems
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American Express Co
Jeffrey Frankel
Stuart Frankel & Co
Bank bailout risks tax dollars and invites fraud
A government audit warns that the Obama era bank bailout program may expose taxpayers to losses and possible fraud. The six month old, 700 billion dollar Troubled Asset Relief Program could total two trillion dollars when private investor funds are included.
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Uled
Neil Barosksy
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