Seattle Rescue
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The rescue mission was clearly a relief for Cooley, who had been forced to slash the quarterly dividend by two-thirds, to 12¢. All these revelations, and the high-noon scrambling by bankers, left Wall Street remarkably unruffled. On Friday, the day after Cooley disclosed just how bad things were, the bank's stock dropped just 1⅛ points, and closed at 14⅝.
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