Sunday, October 21, 2007

The floodgates of fear are open

Important banks , Europeans included, and financial firms are expressing more interest than expected in putting billions of dollars , more than 60, toward a big fund to prop up parts of the mortgage security market.

What it seemed as bailout for Citigroup is becoming a necessity for a lot of institution in the financial market.

The floodgates of fear are open.

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