Unemployment Tops 6% LevelAugust ushered in an unemployment rate of 6.1%, the highest level in five years, says a Bureau of Labor Statistics report released today. In August, 84,000 jobs were eliminated putting the year’s total jobs lost at 605,000. The steadily climbing unemployment rate — it was 5% in April — is a sign of a recession, some economists say. Amid anxiety about th
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Fannie, Freddie Said to Agree to U.S. RescueAn official U.S. rescue of Fannie Mae and Freddie Mac moved a step closer as the mortgage giants agreed to government control, the New York Times reports. The plan would have the Treasury Department purchase billions in mortgage securities from the companies and provide quarterly capital infusions. (For more on this news, click here.)Bhutto Widower Wins
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