Major home (subprime) lender files for bankruptcy

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Subprime lender New Century Financial Corp., once the nation's second-largest provider of mortgages to high-risk borrowers, filed Monday for bankruptcy protection and immediately fired 3,200 workers, or 54 percent of its work force.

http://news.yahoo.com/s/ap/20070402/ap_on_bi_ge/new_century_bankruptcy

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