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U.S. to take control
WASHINGTON/NEW YORK (Reuters) - The U.S. government plans to put government sponsored mortgage finance companies Fannie Mae and Freddie Mac under federal control, the New York Times and Washington Post newspapers reported late Friday, in what could be the largest financial bailout in the nation's history.

McCain and Obama clash on economy
CEDARBURG, Wisconsin (Reuters) - Presidential rivals John McCain and Barack Obama, back on the campaign trail after their party conventions, clashed over the ailing U.S. economy on Friday as unemployment hit its highest monthly rate in nearly five years.


 

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