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Wednesday, March 26, 2008

Wednesday News Bump

Taxpayers May Be Liable for Billions in Fed, Treasury Mortgage-Rescue Bid Even as the Bush administration insists it won't risk public funds in a bailout, American taxpayers may already be liable for billions of dollars stemming from Federal Reserve and Treasury efforts to quell a financial crisis.

Oil Rises a Second Day on Iraqi Clashes, Lower Gasoline Supplies Forecast Crude oil rose for a second day on speculation U.S. gasoline stockpiles declined last weak and concern that fighting in southern Iraq may disrupt supplies.

Soybeans Climb on Farmer Protests in Argentina; Gold, Oil Rally on Dollar Soybeans jumped by the daily limit in Chicago, leading a commodity rally, as farmers in Argentina blocked ports and threatened to plant fewer crops to protest rising export taxes.

Thai Rice Exports Soar on Scarce Supplies as Chicago Prices Reach Record Rice exports from Thailand, the world's biggest exporter of the commodity, jumped 72 percent this year as prices rose to records on scarce global supplies.

Japan's Export Growth Quickens to 8.7% as Asian Markets Cushion U.S. Slump Japan's export growth unexpectedly accelerated in February as demand from emerging markets helped automakers ride out the U.S. slump.

Floridians Forgo Beer, Long Hair, Take $200 Vacations as Home Prices Fall Miami-area homeowner Richard Welch is spending $70 less on groceries a week after his house lost $145,000 in value. Rita Roland cut off 11 inches of hair to save on salon trips, and Victor Parris stopped drinking his favorite brands of dark ale.

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