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» S&P Downgrades Merrill Lynch, Morgan Stanley, Lehman As Industry Pounding Now Seen Tougher Than Expected
S&P Downgrades Merrill Lynch, Morgan Stanley, Lehman As Industry Pounding Now Seen Tougher Than Expected
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In the wake of the collapse of Bear Stearns, three top broker-dealers heavily active in the mortgage finance universe saw their credit ratings downgraded this week, as it became increasingly apparent to analysts that revenues could drop further...