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NEW YORK, Jan. 6 (UPI) -- U.S. corporations and consumers are downsizing debt while credit remains tight, possibly marking a sea change in spending attitudes, a bank economist said.

When the fire started they told us not to worry. They told us to remain calm. They said they had it under control. But a full-fledged economic conflagration eventually brought the world to its knees. Commerce ground to a halt banks hoarded cash century-old financial institutions buckled. Deprived of its warm lubricating bath of credit the financial system has suffered many casualties. A few of the worst offenders -- AIG (AIG) Fannie Mae (FNM) Freddie Mac (FRE) Citigroup (C) and General Motors (GM) -- received government lifelines to stay in the game. Others -- including Bear Stearns Lehman Brothers Countrywide IndyMac ...

There could still be more drops to come.

Visit StreetInsider.com at http://www.streetinsider.com/news.php?st=p&id=4271872 for the full story.

In this article, we cite Merrill Lynch (MER), Bank of America (BAC), JP Morgan Chase (JPM), Citigroup (C), Wells Fargo (WFC), PNC Financial Services (PNC), Morgan Stanley (MS) and Goldman Sachs (GS). The banking landscape in the U.S. has changed drastically[More...]

(This is the fifth installment of an investigative series in which Money Morning examines how U.S. banks are using federal bailout funds.) By William Patalon III Executive Editor Money... Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. Money moves markets. But Money Morning lets you move first. <img[More...]

After receiving hundreds of billions of dollars in taxpayer-funded federal bailout money, the biggest U.S. banks say they can’t track how that money is being spent. Some of the banks are outright refusing to discuss the matter, a new study has found. “We have not disclosed that to the public. We’re declining to,” Thomas ...

Companies featured in this segment: Union Fenosa SA (MCE:UNF), TME Australia, Union Fenosa Wind Australia, Bruce Power LP, Cameco Corporation (NYSE:CCJ), TransCanada Corporation (NYSE:TRP), ExxonMobil (NYSE:XOM), Merrill Lynch (NYSE:MER), ESB International, Scottish and Southern Energy plc (LSE:SSE), E.ON AG (OTC:EONGY), Pine Lake Corn Processors LLC, Fluor Corporation (NYSE:FLR), and Siemens Limited (BSE:500550).

Schaeffer's Andrea Kramer takes a look at unusual option activity on the Street

Schaeffer's Equities Analyst Colleen S. King a look at news on the Street before the market open.

Schaeffer's analyst Colleen S. King takes a look at news on the Street before the market open.

Schaeffer's Andrea Kramer takes a look at unusual option activity on the Street