Failing investment, insurance, and financial giants are selling themselves like no tomorrow. As if our housing crisis (so many foreclosures) wasn’t enough – there goes our national economy. The next president has a lot of work to do.

On the up side, Bank of America, now has largest brokerage in the world after the acquisition of Merrill Lynch. I’m glad that my bank is doing well, unlike WaMu), for example. Anyway, here is the month of September, as presented by a selection of Breaking News Alerts from the The New York Times.

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Wednesday, September 17, 2008
Stocks Plunge; Dow Off Nearly 450 Points
Stocks fell sharply as the Federal Reserve’s rescue of the giant insurer A.I.G. failed to calm jittery financial markets; prices for Treasury bills, gold and oil rose sharply.

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Tuesday, September 16, 2008
Fed to Give A.I.G. $85 Billion Loan and Take 80% Stake
In an extraordinary turn, the Federal Reserve agreed Tuesday to take a nearly 80 percent stake in the troubled giant insurance company, the American International Group, in exchange for an $85 billion loan.

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Tuesday, September 16, 2008
Fed Leaves Key Interest Rate Unchanged
The Federal Reserve said the strains on the financial markets have increased significantly, but it kept its key short-term interest rate unchanged at 2 percent.

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Monday, September 15, 2008
News Alert: Dow Closes Down More Than 500 Points
The Dow Jones industrial average fell more than 500 points on Monday in the first day of investor reaction to some of the most dramatic developments in the history of high finance.

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Monday, September 15, 2008
Crude Oil Declines, Trading Below $100
After more than six months in triple-digit territory, oil prices dropped sharply, falling under the symbolic $100-a-barrel threshold as financial woes raised concerns about slowing oil demand.

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Monday, September 15, 2008
Dow Falls 300 Points Within Minutes of Opening
The Dow Jones industrials fell more than 300 points shortly after the open as the markets reacted to turmoil at major Wall Street investment banks.

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Monday, September 15, 2008
Lehman Brothers Announces It Will File Chapter 11 Bankruptcy
Lehman Brothers, the storied Wall Street securities firm, announced on its Web site early Monday that it will file for Chapter 11 bankruptcy protection.

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Sunday, September 14, 2008
A.I.G. Seeks $40 Billion in Fed Aid to Survive
The American International Group is seeking a bridge loan from the Federal Reserve as it faces a potential downgrade from credit ratings agencies.

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Sunday, September 14, 2008
Bank of America in Talks to Buy Merrill Lynch
Bank of America is in advanced talks to buy Merrill Lynch for $25 to $30 a share, people briefed on the negotiations said on Sunday.

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Wednesday, September 10, 2008
Lehman Sees $3.9 Billion Loss and Plans to Shed Assets
The struggling investment bank Lehman Brothers said that it would report a $3.9 billion loss for the third quarter and would sell a majority stake in its investment management unit as it struggles to stay afloat.

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Monday, September 8, 2008
U.S. Takeover of Mortgage Giants Lifts Markets
Following rallies in Asia and Europe, the Dow Jones industrial average jumped more than 340 points, or about 3 percent, within two minutes of opening.

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Friday, September 5, 2008
Government Preparing Plan to Seize Fannie Mae and Freddie Mac, Officials Say
Senior officials from the Bush administration and the Federal Reserve informed top executives of Fannie Mae and Freddie Mac, the mortgage-finance giants, that the government is preparing a plan to seize the two companies and place them in a conservatorship, officials and company executives briefed on the discussions said.

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Friday, September 5, 2008
Economy Shed 84,000 Jobs in August; Unemployment Rate Jumped to 6.1%
The government said Friday that the American economy lost 84,000 private nonfarm jobs in August, the eighth straightmonth of job losses. The unemployment rate jumped to 6.1 percent in August, the highest in nearly five years. Both figures were worse than economists had forecast.

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