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Japan has taken the lead in announcing extra funding for boosting IMF’s funds. It pledged Tuesday to give $60 billion. IMF is looking for $400 billion in funding to help European nations to deal with the sovereign debt crisis.
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Black Tuesday, October 29, 1929: Crowds gathering at the intersection of Wall Street and Broad Street after stock market crash. The Great Depression rapidly spread worldwide. The market crash marked the beginning of a decade of high unemployment, poverty, low profits, deflation, plunging farm incomes, and lost opportunities for economic growth and personal advancement.