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TUESDAY JULY 29
Fire Sales Not Over Yet Fire-eating has always been a very tricky business – just go to any circus and see for yourself. Generally speaking, we think that if you can get someone else to eat the fire for you, that’s preferable. Luckily, Merrill knows a fund that seems like it was born to eat fire: Singapore’s Temasek Holdings. Despite its having bought the biggest chunk of shares now owned in the bank last December, it still hasn’t had its fill and has now agreed to buy another $3.4 billion. Meanwhile, Merrill is also offloading more than $30 billion of bonds at a steep loss. Can the bank finally kill its subprime disease without killing the patient? July 2008New User?Sign up to get free access to TraderDaily.com
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