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Securities, Anyone?

When the auction-rate-securities market went into seizure in February and early March, it only added to the headaches of hedge funds operating in the municipal bond market, triggering prompt liquidations and $3 billion in losses.

When the auction-rate-securities market went into seizure in February and early March, it only added to the headaches of hedge funds operating in the municipal bond market, triggering prompt liquidations and $3 billion in losses. Though hedge funds may not have had a large direct stake in the ARS market,

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