UPDATE 1-U.S. Dealers Eager For New Fed Funding Insurance - Congoo

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UPDATE 1-U.S. dealers eager for new Fed funding insurance

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Reuters | August 27, 2008

(Recasts lead, adds details) NEW YORK, Aug 27 (Reuters) - Wall Street dealers, fearful of getting caught short of cash at the end of the quarter, were eager buyers of a type of insurance policy offered for the first time on Wednesday by the Federal Reserve. The firms submitted $51 billion in bids fo...

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