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Both Reuters and the Wall Street Journal were reporting on Monday that more than a dozen banks had signed or expressed their intention to sign on to sell preferred stock in return for government funds in the last few days. They join the original nine financial institutions which signed on to the program...
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We expected that the lead story of this week would be the Congressional testimony of Countrywide Mortgage CEO Angelo Mozilo and other mortgage company executives about their high levels of compensation which continue despite the enormous loses their companies have suffered in the subprime mortgage collapse...