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IPFS News Link • Economy - Economics USA

National Australia Bank suffers 55 percent loss on American housing loans

7-25-08 • buinessspectator.com.au

This is an unprecedented event and means that the cost of bailing out the US financial system is now far beyond the highest estimates. A US recession is now locked in, but more alarmingly, 55 per cent loan losses point to the possibility of a depress

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