May 21, 2013

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Stocks Set to Plunge after Fall of Lehman Bros.

U.S. stocks headed for a sharply lower open and Treasury bond prices soared Monday as investors reacted to a stunning reshaping of the landscape of Wall Street. A series of events took out two storied names Sunday: Lehman Brothers Holdings Inc. and Merrill Lynch & Co.

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Wall Street Awakes to 2 Storied Firms Falling

When Wall Street woke up Monday morning, two more of its storied firms had fallen. Bank of America agreed to purchase Merrill Lynch and Co. in an all stock transaction and Lehman Bros. announced it will file for Chapter 11 Bankruptcy.

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Feds Hope Conductor Can Shed Light On Deadly Crash

Federal and local investigators had no definitive answer as to why a commuter train carrying 220 people rolled past stop signals Friday and barreled head-on into a Union Pacific train in Chatsworth. The accident, the nation's deadliest rail disaster in 15 years, left train cars so mangled that some bodies had to be removed in pieces.

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Nearly 2,000 Brought To Safety In Texas After Ike

As teams persisted in the biggest search and rescue operation in Texas history, a new phase of the disaster wrought by Hurricane Ike was only beginning while thousands of people faced long stays in crowded shelters because their homes were damaged or destroyed.

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World Stock Markets Sink On Wall Street Crisis

Asian and European stock markets were down sharply Monday amid growing alarm over the world's financial system after a seismic shake-up on Wall Street, with Lehman Brothers saying it would file bankruptcy and Merrill Lynch being sold to Bank of America.

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Wealthy rancher charged in deaths of 32 bison

Keep your bison off my property or risk having them hunted, software executive Jeff Hawn warned his neighbor outside this old Colorado mining town. In a lawsuit he said the animals knocked his satellite television dishes off line and left dung, tracks and hair on "pristine pasture on rolling hills."

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Houston's post-Ike supplies coming, officials say

Federal supplies of food and water will be available by Monday evening to Houstonians affected by Hurricane Ike, officials said Sunday after Houston's mayor voiced concern about when the aid would come.

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Gun Shots Fired

Several calls made to 9-1-1 Sunday night after gun shots were heard in a Topeka neighborhood.

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Matt Damon, Wyclef Jean Visit Haiti City In Ruins

Cries of adulation — and hunger — followed Haitian-born singer Wyclef Jean and actor Matt Damon as they toured flood-ravaged Gonaives on Sunday to call attention to widespread suffering in the marooned city.

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Morales Struggles To Control Bolivia Amid Violence

President Evo Morales struggled to assert control over a badly fractured Bolivia on Sunday as protesters set fire to a town hall and blockaded highways in opposition-controlled provinces, provoking gasoline and food shortages.

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Republicans Fault Both Campaigns For Negative Ads

Leading Republicans on Sunday faulted both presidential campaigns for the increasingly negative tone of their advertising, suggesting the bitter attacks undermine John McCain and Barack Obama's credibility with voters and could backfire.

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Dispatcher Tried To Warn Engineer In LA Rail Crash

A dispatcher tried to warn the engineer of a Metrolink commuter train that he was about to collide with a freight train but the call came too late, rail officials investigating the crash that killed 25 people said Sunday.

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Fed Moves To Deal With Financial Crisis

The Federal Reserve announced late Sunday several steps to cope with the worst credit crisis in decades, including broadening the types of assets that investment banks can put up to get emergency loans from the Fed.

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AIG Plans Major Restructuring, According To Report

The Wall Street Journal reported Sunday that American International Group Inc. plans to disclose a restructuring by early Monday that's likely to include the disposal of major assets including its aircraft-leasing business and other holdings.

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