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4th QUARTER 2008
Quarter Ended 12/31/2008
2008 - What a Year
After a tumultuous 2008, investors are likely hoping
for a break in the fear pervasive in the capital markets.
3rd QUARTER 2008
Quarter Ended 9/30/2008
Once in a Lifetime
Credit spreads widened to levels far in excess of
levels witnessed before. At the core of the widening was a
continuous loss of confidence in the financial and political
institutions.
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2nd QUARTER 2008
Quarter Ended 6/30/2008
Equity Crunch
To date, commercial and investment banks have taken
approximately $400 billion in losses and write-downs worldwide.
1ST QUARTER 2008
Quarter Ended 3/31/2008
Liquidity at a Premium
Confidence among financial institutions was shaken,
they pulled back from lending, and several over-leveraged players were
forced to the brink of bankruptcy.
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