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To: Bucky Katt who wrote (33587)4/3/2007 1:35:22 AM
From: Bucky Katt  Respond to of 48463
 
New Century files for Chapter 11>

New Century Financial, the US subprime mortgage lender, on Monday filed for Chapter 11 bankruptcy protection in the wake of a liquidity crisis triggered by a spike in problem loans.

The company is the biggest casualty of the turmoil in the market for home loans made to Americans with weak credit histories.