An entire system of leveraged assets polluted with worthless loan-backed securities is in the process of violent unwinding. Bear Stearn's bond rating has just been lowered, guaranteeing that they cannot secure further financing to hemorrhage trying to repair irreparable insolvency. Being "too-big-to-fail," the bank must now be bought out by Monday.
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4-18-2024
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They're saying F-U to Congress, essentially read more | digg story
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