US mortgage giant needs $1bn to survive
One of America's biggest home loan providers, Thornburg Mortgage, needs to raise nearly $1bn over the next seven business days in order to keep its creditors at bay.
The New Mexico-based firm defaulted on $610m (£307m) ... More... (Mortgage News)
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Citigroup, Credit Suisse, Royal Bank of Scotland, Thornburg, UBS, US mortgage March 21st, 2008
