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U.S. banks set rescue fund

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Uploaded by on Oct 15, 2007

Oct 15 - Several large U.S. banks, backed by the U.S. Treasury, announced a multi-billion fund aimed at shoring up an investment vehicle rocked by this summer's credit crunch.So called structured investment vehicles, or SIVs, were rocked by this summer's credit crunch, which could result in further pressure on bank profits, credit costs and overall U.S. economic growth.Conway Gittens reports.

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  • Yep. there are mostly backed by the treasury. 

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