October 11, 2008

Bush, global leaders vow to cooperate in financial crisis

Leaders of the world's most industrialized nations agreed Saturday to work together to attack the widening financial crisis. Meanwhile, in a strongly worded statement, the managing director of the IMF offered a grim summation, saying banks weren't just having trouble accessing capital, but were in danger of insolvency, meaning many big banks and corporations are at risk of collapse.

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