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Resource ID: #19435
Subject: Business
Source: Bloomberg News (New York)
Affiliation: 
Date: September 2002

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Description

Alliance Capital Management, the world's eighth-largest asset management firm, lost more than $8 billion of its customers' money by investing in five of the biggest corporate train wrecks of the past two years -- Dynergy, Enron, Qwest, Tyco International, and WorldCom -- in the vain hope that the stocks of those scandal-plagued companies would recover.

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