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IPFS News Link • Economy - Economics USA

Auction-Rate Debt Succumbs to Bid-Rig Taint as Citigroup Flees

2-21-08 • Bloomberg.com

Hundreds of auctions have failed this month, sending borrowing costs as high as 20 percent because dealers from Goldman Sachs Group Inc. to Citigroup Inc.,stopped using their own capital to support the sales.

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