ASX 0.37% $62.92 asx limited

george to the rescue

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    PRESIDENT George W. Bush will outline reforms today intended to help homeowners with subprime mortgages avoid default, a senior US administration official said.

    "He will also discuss reform efforts to prevent these kinds of problems from arising in the future," the official told Reuters on condition of anonymity.

    Financial markets have been in turmoil over the fallout from these credit problems for several weeks.
 
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