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March 2007
A March 29 story, Bear Growls at Subprime, misstated the size of Bear Stearns' (BSC:NYSE) subprime mortgage business and the company's lending-volume forecasts for 2007.
Bear said it had cut subprime activity in 2006 from the year prior by 50%. It said subprime lending represents less than 3% of its mortgage business, not 30% as originally reported. The company also forecast that industrywide subprime lending volume would drop by 30% this year.
TheStreet.com regrets the error. (Corrected March 30)
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