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Banks' Long LBO Nightmare

Stock quotes in this article: BAC , GS , BSC , C , JPM , FDC , LEH  

The credit crunch vexing big banks may not play itself out till the middle of next year, according to a recent report issued by Fitch Ratings.

The could mean more bad news for investors in hard-hit financial stocks like Citigroup (C Quote), JPMorgan (JPM Quote), Lehman Brothers (LEH Quote) and Goldman Sachs (GS Quote).

Fitch identifies some $350 billion in pending leveraged buyout debt weighing down bank balance sheets, along with $150 billion in completed deals that still need to be syndicated. ...

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