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February 22, 2008
FBR Loses $270M in 4Q
Friedman, Billings, Ramsey Group lost $270 million in the fourth quarter and is blaming its performance partly on the bankruptcy of its subprime division, First NLC Financial Services of Florida. For the year, the publicly traded real estate investment trust -- once a major player in the subprime sector -- lost $660 million.
Posted by S. Germain at February 22, 2008 08:36 AM