Greenspan ends tenure with quiet Fed transition
Washington analyst say Greenspan leaves a steady legacy of low inflation while stepping aside for Bernanke. The Fed was poised to raise its funds rate to 4.5 percent range, matching a high in five years, as Bernanke expected to be sworn in.
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Savings slump mirrors Great Depression era within housing boom
The Commerce Department reports Americans posted a negative 0.5 percent personal savings rate last year as spending outpaced after tax income. With 78 million poised for retirement, rising home values and stock gains spur spending while analysts warn of slower growth and rising medical costs. The Dow edged lower, while home sales plateau amid higher mortgage rates.
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The Aim of the Game Is to Win East dealer
The column discusses a bridge hand where West leads hearts against three notrump. Declarer wins with East s ten, later finesses the nine to gain an extra entry to dummy and establish clubs. West errs by not playing the jack when South leads hearts, allowing declarer to escape. Tomorrow: From darkness into light.
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Jury chosen for Enron trial in Houston
Eight women and four men jurors were selected to hear the Enron fraud case against Kenneth Lay and Jeffrey Skilling. Openings set the stage for a lengthy trial as prosecutors accuse the duo of lying about Enron’s health and true finances while defense argues the company’s success was real. Judge Sim Lake questioned about 100 potential jurors before final panel.
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