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State was warned on securities

But individual investors were surprised by failure of auction-rate market

By Beth Healy
Globe Staff / July 3, 2008

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At least five major Wall Street firms warned the Commonwealth in January that a $330 billion slice of the bond market was in distress, e-mails and presentations from those firms show. They were warnings that most individual investors did not receive before the market collapsed on Feb. 13. (Full article: 1046 words)

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