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October 30, 2008 · 2:22PM

Lazard Chief Sees Significant New Losses Ahead

Lazard’s CEO Bruce Wasserstein said Thursday the largest U.S. banks refuse to lend for an obvious reason: they know significant losses on bonds backed by credit card debt, commercial real estate loans and other assets loom ahead if the economy gets worse. (Fortune)

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

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