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| FPA Insights

Accounting Issues Hiding in Plain View

The Glass-Steagall Act separated commercial and investment banking activities in 1933, to help limit the financial excesses of the 1920s that helped create the Great Depression.

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FPA New Income Fund

| FPA Insights

Comments on Conseco Holdings

Unfortunately, we have been wrong about our Conseco investment. The economic and regulatory climate has overwhelmed the company’s effort to gradually restructure its balance sheet.

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