Two bits of news didn’t help the market much at the open. QCOM reported disappointing guidance, which hurt an already weak tech sector. and Wachovia announced a $1.1 billion decline in its CDOs.The Lehman Chief Global Bond Strategist said this credit crunch is worse than Long-Term Capital Management, and that it is the "deepest correction" ever in structured finance. But remember, historically financial crises turn out to good buying opportunities for investors in hindsight.I see the big culprit this[...]
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[Source: The Money Blogs]
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