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Tuesday, August 28, 2007 |
Market Misery Means Cut-Rate Deals For Bargain Hunters. The biggest names in American capitalism -- from bankruptcy whiz Wilbur Ross to Bank of America -- are finding cut-rate deals within the widespread financial misery that began when record numbers of homeowners defaulted on their mortgages.
Investment-savvy billionaires snatched up high-quality bonds and stocks on the very days when most traders were furiously selling. Now those investors are enjoying big gains as the market gradually recovers from a 10 percent drop. Some fund managers think they can even make money in high-risk mortgage products, which Wall Street blames for bringing down the credit markets, which hurt the stock market and called the health of the economy into question.

[The Full Feed from HuffingtonPost.com]
7:34:01 AM
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© Copyright 2007 Patricia Thurston.
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