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"However, concerns about economic conditions -- combined with the destabilizing impact of distressed 'legacy assets' -- have created an environment under which uncertainty about the health of individual banks has sharply reduced lending across the financial system," he said.
A "legacy" of fraud and criminality, combined with massive public denial by governmental authorities, will do that.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Apr 22nd, 2009 at 01:12:23 AM EST
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