Closing Bell: 08.23.07

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Closing Bell brought to you by the Financial Times.
The three major U.S. indexes started up today, and then finished flat to slightly lower. The Dow finished virtually flat, the S&P was down 0.1% and the Nasdaq was down 0.4%. European stocks were also mostly flat while Asian stocks almost all rallied over 1% or higher.
Bank of America announced that is was dumping $2 billion into Countrywide, even as Countrywide CEO Angelo Mozilo cried that the sky was still falling. Mozilo is thinking recession. Other market strategists are whining that the Fed is not doing enough to restore liquidity to the credit markets.
Check out FT Alphaville for info on the prerequisite to mo' problems.

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