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this is a bit scary. Sorry if it has already been posted
IMF warns of meltdown
October 12, 2008 - 11:52AM
The IMF warned the world's financial system was near meltdown and France promised that a meeting of European leaders in Paris will detail measures to keep a market panic from triggering the most severe global downturn in decades.
The Sunday Times newspaper said Britain will launch its biggest retail bank rescue on Monday when the four largest, HBOS, Royal Bank of Scotland, Lloyds TSB and Barclays, ask for a combined 35 billion pound ($60.5 billion) lifeline...
http://business.watoday.com.au/business/imf-warns-of-meltdown-20081012-4yzs.html
