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Friedman Billings gets OK to buy bank * Friedman Billings Ramsey & Co. Inc., an investment bank in…

Friedman Billings gets OK to buy bank

* Friedman Billings Ramsey & Co. Inc., an investment bank in Arlington, Va., received approval last week from the Federal Reserve to buy a nearby retail bank.

The go-ahead makes FBR the first company with significant merchant and investment banking activity to

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