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<title>Reuters Video: Credit Crisis</title>
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		<title>Tax credit hopes</title>
		<description>Oct. 27 - American lawmakers appeared one step closer to extending an $8,000 tax credit for first-time homebuyers partly responsible for an improvement in the housing market.&lt;div class="feedflare"&gt;
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		<pubDate>Tue, 27 Oct 2009 20:03:01 -0400</pubDate>
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&lt;p&gt;SOUNDBITE: Nomura Chief Economist David Resler&lt;/p&gt;
&lt;p&gt;Conway Gittens, Reuters&lt;/p&gt;
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		<title>Geithner testifies on regulation</title>
		<description>Oct. 29 - The Federal Reserve should lose its authority to bail out big, failing financial firms like AIG and Bear Stearns under proposed reforms aimed at limiting the collateral damage from such failures, U.S. Treasury Secretary Timothy Geithner said.&lt;div class="feedflare"&gt;
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		<pubDate>Thu, 29 Oct 2009 16:43:01 -0400</pubDate>
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			<media:text type="html">&lt;p&gt;Geithner, in testimony on Thursday to the U.S. House of Representatives Financial Services Committee, said the Fed should keep its ability to act as an emergency lender of last resort, but only to solvent firms in times of severe stress in financial markets -- with Treasury consent.&lt;/p&gt;
&lt;p&gt;"Any firm that puts itself in a position where it cannot survive without special assistance from the government must face the consequences of failure," Geithner said. "The proposed resolution authority would not authorize the government to provide open-bank assistance to any failing firm."&lt;/p&gt;
&lt;p&gt;Geithner said a bill by the Financial Services Committee's chairman, Representative Barney Frank, meets the tests for key elements of a resolution authority that the Obama administration would like to see passed.&lt;/p&gt;
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