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Spiegel appears to focus on the crisis of the Landesbanken which, like the Spanish Cajas are notorious for their structural political ties.

Landesbank - Wikipedia, the free encyclopedia

The Landesbanken in Germany are a group of state owned banks of a type unique to Germany. They are regionally organised and their business is predominantly wholesale banking. They are also the head banking institution of the local and regional bases Sparkassen (= saving banks).

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman
by Migeru (migeru at eurotrib dot com) on Thu Jan 27th, 2011 at 06:04:18 AM EST
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Remember the very cheap and fishy loan LB Bayern(?) extented to the Olkiluoto nuclear consortium? I'm sure Siemens had nothing to do with that...

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid on Thu Jan 27th, 2011 at 08:16:40 PM EST
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