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Wall Street Roundup: Different debt details. Bank fight.

July 27, 2011 |  8:17 am

Wall sign -- stan honda afp getty images Gold: Trading now at $1,629 per ounce, up 0.6% from Tuesday. Dow Jones industrial average: Trading now at 12378.88, down 1.0% from Tuesday.

Different debt details. As a possible U.S. default or downgrade gets closer -- and economists are now agreeing that a downgrade is likely -- there are mountains of interesting reports, including:

-- A suggestion that the U.S. could potentially overdraw its bank account, just like you and me, and continue spending even once the money is gone. 

-- An analysis of why U.S. markets don't appear to be more scared of default. Could it be that the     United States' credit rating doesn't matter?

-- A report that religious groups will be holding a prayer vigil today to help support a debt deal.

Bank fight. That settlement between the banks and 50 state attorneys general that has fallen out of the news is being held up as the different banks fight among themselves about how they should split up the payment of penalties.

-- Nathaniel Popper

Credit: Getty Images / Stan Honda

 

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