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  • A default threatened Chase Manhattan Bank, Morgan Guaranty Trust, Citibank and other giants with a major blow to their solvency.Shortly after giving his speech, just before Thanksgiving, President Ford traveled to Rambouillet, an 18th century chateau outside Paris for the world???s first economic summit, summoned by President Valery Giscard d???Estaing to deal with the worldwide downturn.
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