Global credit squeeze on verge of entering new phase

02/11/2008 | Wall Street Journal (free content), The

Low-rated corporate loans have plunged in value over the past few days, prompting speculation that banks will attempt to unload the loans at fire-sale prices. Meanwhile, jittery investors are also shunning student-loan-backed securities, debt backed by commercial real estate and municipal bonds. The situation is likely to spur the ongoing global credit crunch.

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Wall Street Journal (free content), The

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