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The Power of Rate-Cut
Posted by Stock Online Trader on December 10, 2007 in Finance Sector
Swiss banking giant UBS warned today that it will write down the value of its subprime mortgage holdings by a further $10 billion, leading to a loss in the fourth quarter and potentially wiping out all its profits for the year. Bank of America Corp. said today that it’s shutting a $12 billion a money-market [...]