Breaking News The Stock Market Is Crashing

The upheaval that has engulfed the financial industry and sent the stock market plummeting is devastating workers' savings, forcing people to hold off on major purchases and consider delaying their retirement, said Peter Orszag, the head of the Congressional Budget Office.

As Congress investigates the causes and effects of the financial meltdown, the House Education and Labor Committee was hearing from retirement savings and budget analysts on how the housing, credit and other financial troubles have battered pensions and other retirement funds, which are among the most common forms of savings in the United States.

Wall Street zigzagged Wednesday as an emergency interest rate cut failed to alleviate investors' fears that the paralysis in the credit markets will set off a global recession. The major indexes moved in and out of positive territory, with the Dow Jones industrials at times falling more than 200 points.

In a rare coordinated move, the Federal Reserve and other major central banks from around the world slashed interest rates Wednesday to prevent a mushrooming financial crisis from becoming a global economic meltdown. The Fed reduced its key rate from 2 percent to 1.5 percent. In Europe, which also has been hard hit by the financial crisis, the Bank of England cut its rate by half a point to 4.5 percent and the European Central Bank sliced its rate by half a point to 3.75 percent. The central banks of China, Canada, Sweden, and Switzerland also cut rates. The Bank of Japan said it strongly supported the actions.

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John Ahlf Partners with FDI

New Hampshire was buzzing today when news leaked out that John Ahlf had become one of the newest representative of Financial Destination. John Ahlf , an expert in sales and saving other individuals money, joins an already power-packed lineup of entrepreneurs in the Financial Destination stable.

When founder William Andreoli was asked for his opinion on Mr. Ahlf he answered: "I could not be more thrilled about John's decision to join us. John brings unique, high energy approach to our community. John will be an asset to every other member from the first day he arrives."
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John Ahlf was quoted as saying "Financial Destination is hands down the simplest way to make and save money online. These guys are constantly improving their marketing system to stay ahead of the competition. I could not be happier about starting this new business."
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Financial Destination is based out of New Hampshire and their information website is http://www.financialdestination.tv.

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