Breakthroughs and everyday innovations from the year.
HEADLINES ON June 29, 2001
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- Headline: Citigroup Ceases Controversial Mortgage Practices. Impact: By stopping the sale of predatory mortgage insurance, Citigroup inadvertently paved the way for a slew of new financial regulations, leading to the creation of a new breed of bankers who actually care about people. Just kidding, that still doesn't exist.. Fact: They say the road to hell is paved with good intentions, but in banking, it seems to be paved with mortgage paperwork and questionable ethics..
- Headline: World Business Briefing | Europe: Britain: Loss For Fuel Processor. Impact: This financial blunder not only caused a stir in the energy sector but also kickstarted a wave of investment in renewable energy. So, thanks to a hefty loss, the planet might just have a fighting chance. Go figure!. Fact: It's funny how losing money can sometimes lead to saving the planet. If only that worked with my personal finances..
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Apple - If you invested $1,000 in 2001, it would be worth $1,220,264 today (1220.3x return)