Read the text of Bush's speech (CNNMoney.com) and New Zealand offers 2-year money deposit guarantee (AP)

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City of Industry, CA --(www.USEquityNews.com)-- 10/15/2008 - Banking industry alert provided by U.S. Equity News. Here is the text of President Bush's speech about the world response to the financial crisis, following a meeting with the G7 finance ministers:Thank you all very much. Good morning.Secretary Paulson, Secretary Rice and I just had a productive discussion with finance ministers of America's partners in the G7 -- Canada, France, Germany, Great Britain, Italy, and Japan. [Read the full article]


WELLINGTON, New Zealand (AP) -- New Zealand's government is offering to guarantee all retail bank deposits for the next two years to free up liquidity flows, Finance Minister Michael Cullen said Sunday. The plan brings New Zealand in line with neighbor Australia and many other countries seeking to ease liquidity in the international credit system in the wake of the global financial crisis.The retail deposit guarantee is an opt-in scheme and would take the form of a bilateral contractual agreement between the government and institutions that take up the offer, Cullen said."The deposit guarantee [Read the full article]

An inflatable gorilla beckoned from the roof of Don Brown Chevrolet in St. Louis, servers doled out free bowls of pasta and a salesman urged potential customers to "come on up under the canopy and put your hands on" a new set of wheels.
But sitting across from a salesman in a quiet back room, Adrian Clark could see it would not be nearly that easy. This was the ninth or tenth dealership for Clark, a steamfitter looking for a car to commute to a new job. [Read the full article]

Dear Debt Adviser, We're considering refinancing our mortgage and adding $10,000 to pay off credit card debt. We have 14 years left on a 20-year, 7 percent fixed-rate mortgage with a balance of $112,000. Our credit union is offering a 15-year, 5.5 percent fixed-rate "refi." Does it make sense to incur the closing costs to make the switch?-- Roger Dear Roger,This is one of those questions where "depends" will appear often in the answer. Due to the mortgage crisis and housing situation in our country right now, I hesitate to recommend using home equity for anything. [Read the full article]

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