Standard & Poor: Banks should prepare for second wave of credit crunch losses

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Standard & Poor: Banks should prepare for second wave of credit crunch losses

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08-22-2008, 05:32 AM

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Standard & Poor: Banks should prepare for second wave of credit crunch losses

Credit rating agency, Standard & Poor, has warned that a recovery in the banking industry is at least a year away.According to the agency, US and European banks are entering a second phase of credit crunch related losses.The warning comes as investment bank, Lehman Brothers, had its forecast slashed by analysts after predicting it could [...]

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