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[QUOTE]Originally posted by glassman: [QB] Fubndamentlsla: [b]UBS Writes Down $10 Billion, Singapore Injects Capital By Reuters | 10 Dec 2007 | 09:53 AM ET UBS revealed a $10 billion writedown and an emergency injection of funds from Singapore and the Middle East, making it the biggest victim of the U.S. subprime crisis to date among major European banks.[/b] http://www.cnbc.com/id/22178101 ------------------------------------------------------------- [b]Washington Mutual Cutting Dividend and Jobs By JAD MOUAWAD Published: December 11, 2007 Washington Mutual, one of the country’s largest lenders, said yesterday that it would exit the subprime lending business, cut its dividend and eliminate 3,150 jobs. In an effort to regain liquidity in the face of losses and bad loans next year, the company plans to raise $2.5 billion by selling convertible shares. It will reduce its dividend by nearly three-quarters, to 15 cents a share, from 53 cents.[/b] http://www.nytimes.com/2007/12/11/business/11lend.html this chit is is beginning to stink. [/QB][/QUOTE]
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