Panic swept the credit markets on reports of an insolvency crunch at both the US investment bank Bear Stearns and the mortgage giant Fannie Mae, triggering a dramatic surge in default insurance and rumours of yet another emergency rate cut by the US Federal Reserve.
Bear Stearns report causes credit market panic
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Seeded by juliansambles View Original Article: 
Telegraph
Seeded on Tue Mar 11, 2008 5:53 AM
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