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New York

Fremont puts employees on leave

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Financial services holding company Fremont General Corporation announced yesterday that it was putting some of its home-loan staff on leave. On Friday, the company announced that it would sell its subprime lending business. Fremont’s stock fell 32 percent on the New York Stock Exchange yesterday. Around two dozen subprime lenders have gone out of business over the past few months. more [Bloomberg via NYT]