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Strategies & Market Trends : Longer-Term Market Trends
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To: jjstingray who wrote (1701)9/8/2008 12:26:42 PM
From: morokko65  Read Replies (1) of 3209
 
I think many of the financials rallied because Uncle Sam effectively guaranteed Fannie's bonds for Big Wall Street holders at the expense of the common and preferred issues (small shareholders & smaller banks)

The risk is that some small banks held significant amounts of the preferred, and that forces them to raise capital as an offset
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