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Drug Money Saved Banks in Global Crisis, Claims UN AdvisorQuicklink Submitted By Margaret Bassett No comments
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| The IMF estimated that large US and European banks lost more than $1tn on toxic assets and from bad loans from January 2007 to September 2009 and more than 200 mortgage lenders went bankrupt. Many major institutions either failed, were acquired under duress, or were subject to government takeover. |
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