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Markets cheer rate cut
March 19, 2008
The Fed's smaller than expected rate cuts come a day after it engineered of a rescue of venerable Wall St. firm Bear Stearns, which bet badly on mortgage-backed investments and could no longer meet its trading obligations. Bobbi Rebell reports. The Fed's smaller than expected rate cuts come a day after it engineered of a rescue of venerable Wall St. firm Bear Stearns, which bet badly on mortgage-backed investments and could no longer meet its trading obligations. Bobbi Rebell reports.
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