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Here are 7 debt-default doomsday scenarios

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Faced with some Republicans shrugging their shoulders at the thought of the U.S. defaulting on its debt obligations for the first time ever, notable economists are warning that the consequences would be the economic equivalent of a swarm of frogs and a plague of locusts.

JPMorgan said working to contain damage

Jamie Dimon

Jamie Dimon likes to point out that JPMorgan was 'a port in the storm' during the financial crisis, but five years later, the bank now finds itself under the cloud of what could be one of the largest fines in U.S. history.

Madoff Trustee still going after big banks

Pointing The Finger

The trustee seeking to recover money for the victims of Bernard Madoff’s Ponzi scheme asked the Supreme Court on Wednesday to review a ruling that prohibits him from suing several of the world’s largest banks that he contends aided the fraud.

Meredith Whitney deregisters brokerage

Meredith Whitney Still

Meredith Whitney, who built her own Wall Street advisory firm after winning renown for a 2007 call on Citigroup, deregistered her brokerage unit after three unprofitable years and is setting up an investment fund, according to industry records.

Add these words to your Vocab

The Horologicon

These words are 'too beautiful to live long, too amusing to be taken seriously and too precise to be common'. In other words, words you need to start using now.

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