New York Session |
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The US dollar gained some ground against the majors in NY trading as it became a bit more evident that the cost to taxpayers from the government's mortgage bailout is likely to be well below the announced $700 billion. Treasury Secretary Paulson and Fed Chairman Bernanke noted the very real risk of doing nothing and how the costs from no action would far outweigh any downside risk to taxpayers from the proposed plan. From the hearing, however, it became clear that this bill is a
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