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Bank collapse, Bear Stearns sold in fire sale; Fed cuts rate

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posted on Mar, 17 2008 @ 09:20 AM
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Markets are spooked after the banking giant makes a deal to purchase Bear Stearns for $2 per share in stock after a run on the bank Friday. The Fed lowers the discount rate to try to enhance liquidity.

articles.moneycentral.msn.com...

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