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BBCNEWS BBC News September 20, 2024

Change Interest Rates from five percent. The decision, expected at midday, comes after inflation, showing the rise in consumer prices, remained at 2. 2 Per Cent last month. The Central Bank in the united states lowered Interest Rates by half a Percentage Point Yesterday the first cut for more than four years. Lets speak to our Business Correspondent peter ruddick. What is the expectation with the Bank Of England . I knew you will ask me that. I am not a betting man but the one thing we can predict is it is going to be a close decision. The last time the nine Person Committee voted five to four, as close as you can get to cut Interest Rates last time to the 5 level they are now, a quarter of a Percentage Point change. Why will it be so although there is disagreement really among the committee and economic experts about how sticky, how stubborn Inflation
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CNN The Eighties June 4, 2024 06:08:00

That s all it is? it has nothing to do with the ego. all i know is it sells. what do you do? security. we don t need security here. let s go outside. we have people outside. auletta: leona helmsley was the wife of harry helmsley, one of the major much bigger than trump real estate developers in new york. i asked for something. i did not get it from you. i want it. you have nothing to do? connelly: leona helmsley, the queen of mean. the idea was that she was so mean because she wanted you to have a great experience in one of her hotels. really? seemed like she was just mean. oh, my. it s paradise. he stands here and he says i m taking inventory, i own this, i own this, i own this, and that one and that one and that one. he plays monopoly, but with real buildings. with real buildings. wallace: they bought this connecticut estate a year ago 26 acres, 28 rooms for just the two of them. and this building structure is just what? ....

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CNN The Eighties June 4, 2024 06:05:00

And that was ronald reagan s genius. he was able to link economic faith with faith in america. donaldson: no sitting president had ever visited the new york stock exchange before, but it seems safe to say that no recent president would ve beaten mr. reagan for the honor if a vote had been taken among the floor traders. they gave him round after round of cheer. we re going to turn the bull loose. auletta: the whole world from reagan s white house on was basically saying wall street is the engine of our economy. it represents growth, it represents opportunity, it represents the american dream. and so these guys were basically saying we re gonna go do it. brokaw: this is the big draw on wall street the smell of money. this is where the action is. this is the over-the-counter trading floor of shearson/lehman. more than 17,000 daily transactions involving millions of shares and millions of dollars made and lost here every day. and it s a game for young people. when you get home at the e ....

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CNN The Eighties June 4, 2024 06:26:00

Greed is good. greed is right. greed works. [ applause ] auletta: when michael douglas, in the movie, said, greed is good, i mean, it was a cartoon expression. but there s truth to it. there was a sense that it is okay to be greedy, it is okay to maximize your wealth. what i want to see above all is that this country remains a country where someone can always get rich. brokaw: big companies gobbling up little companies. little companies gobbling up big companies. eight years ago, there were 1,500 corporate takeovers. last year, there were 4,000, involving $200 billion. aug: this type of deal is called a leveraged buyout. the company borrows the money using its assets as collateral for the loan. in return the company issues ious. because the deal is so risky, those ious carry very high interest rates, and they re called junk bonds. now, you may not have heard of michael milken ....

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