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JP Morgan, Morgan Stanley Settle Over ARS For $7B

By Bailey Somers (August 14, 2008, 12:00 AM EDT) -- Following the news that both Credit Suisse Group and UBS AG inked settlements with securities regulators over auction rate securities, two more of the world's largest investment banks have agreed to pay a combined total of over $7 billion to repurchase the securities from retail customers and pay fines....

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