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Why The Safest Banks Saw the Biggest Losses

Jenny Anderson today runs down the list of winners and losers in terms of subprime losses. Winners (or at least banks with relatively small losses): Goldman Sachs; Credit Suisse; Lehman Brothers; JP Morgan. Losers: UBS; Merrill Lynch; Citigroup. Anderson concludes:

Some of the Street’s safest institutions — or those that hoped to be perceived as safe — turned out not to be, while some perceived as risky are so far sailing through.

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