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The three letters loved by bankers that investors should be wary of

A financial assembly line that went haywire a decade ago and contributed to an economic crisis is gearing up again on Wall Street.

Back then, one of the products the banks churned out — bondlike investments based on thousands of mortgages — proved far riskier than most had understood when it turned out that the borrowers couldn't pay. The banking system froze, a financial panic ensued, and the world plunged into the global financial crisis.

Business News

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