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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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To: TobagoJack who wrote (30922)	3/16/2008 4:12:17 AM
From: Snowshoe	Read Replies (1) of 217551

Ripples across the pond... UK tycoon Joe Lewis loses $800m on Wall Street Bear Stearns on brink of break-up March 16, 2008 Dominic Rushe, Iain Dey and David Smith JOE LEWIS, the secretive British billionaire, has lost an estimated $800m in the collapse of the American investment bank Bear Stearns. The 71-year-old currency trading tycoon, who runs his empire from the Bahamas, holds almost 10% of the bank's shares. Bear’s shares fell 40% on Friday to $27, after it secured a 28-day credit lifeline to stave off collapse. Lewis began building a stake in Bear last September, when the shares were changing hands for more than $100. The huge paper losses could force Lewis to sell out of some of his other positions, according to traders, in order to meet margin calls from his lending banks. business.timesonline.co.uk

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