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Resource ID: #17794
Subject: Banking
Source: Fortune
Affiliation: 
Date: 14-May

$0.00

Description

Winstar was one of the more spectacular crash and burns in the Tech wreck. The broadband company was hyped by Wall Street analysts and raised billions of dollars to support its operations and aggressive "last mile" expansion. Some of the money was "smart money" from astute companies such as Lucent and Microsoft. The company declared bankruptcy and blames Lucent, who it accused of breaking terms and not paying money it promised.

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