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US banks pull back funding for coal firms
Hedge funds, private equity firms are also shying away due to its uncertain future
Add BT as a preferred sourcePublished Mon, Mar 21, 2016 · 09:50 PM
New York
TENS of thousands of miners were on strike and coal prices were skyrocketing in October 1902. Afraid of unrest, president Theodore Roosevelt sought the help of John Pierpont Morgan.
The powerful banker, who held great sway over the coal industry, brokered a deal with the miners that ended the strike.
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