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October 23, 2008 · 1:51PM

WaMu Auction Prices Swaps At 57 Cents

An auction held Thursday among dealers valued Washington Mutual’s senior bonds at $0.57 cents, below the initial price estimate of $0.66.  Sellers of credit-default swaps, or insurance, against the bankrupt U.S. thrift will now have to pay 43 cents on the dollar to bond investors. (CNBC)

Categories: Business & Finance Today · Financial Services · Markets, Economic News

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