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This is Money
World markets are braced for a tumultuous day of trading after high-level talks to broker a final deal on the proposed $700bn (380bn) bail-out of the US financial system ended in stalemate.
Markets braced as bail-out talks hit deadlock
John McCain last night was accused of sabotaging the Wall Street bail-out with theatrics that reduced America's credit crisis to a showcase for his presidential leadership capabilities.
John McCain 'undermining' bail-out to lift campaign
JPMorgan Chase acquired the banking assets of Washington Mutual late Thursday after the troubled thrift was seized by federal regulators, marking the biggest bank failure in the nation's history and the latest stunning twist in the ongoing credit crisis.
WaMu seized, JPMorgan buys assets
U.S. banks and money managers borrowed a record amount from the Federal Reserve in the latest week, nearly $188 billion a day on average, showing the central bank went to extremes to keep the banking system afloat amid the biggest financial crisis since the Great Depression.
Fed keeps banks afloat as money market crisis deepens
Morgan Stanley lost close to a third of assets in its prime brokerage last week, amounting to hundreds of billions of dollars, as hedge funds panicked that Morgan Stanley could follow Lehman Brothers into trouble, and moved to rival banks.
Morgan Stanley suffers client flight
Home owners face paying up to 500 a year more on the average mortgage as some of Britain's largest lenders raised rates in the wake of the economic turmoil of the last two weeks.
Home owners hit by mortgage rate rises
The Republic of Ireland has become the first eurozone member state officially to fall into recession since the United States sub-prime home loan crisis sparked a global slowdown.
Republic of Ireland falls into recession