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, 1929 titled "In Goldman Sachs We Trust," the famed economist John Kenneth Galbraith held up the Blue Ridge and Shenandoah trusts as basic samples of the insanity of leveragebased financial commitment. The trusts, he wrote, were being A significant explanation for the market's historic crash; in right now's bucks, the losses the financial institution suffered totaled $475 billion.
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"I regard Women of all ages," says Minnesota Senator. "The point that my very own steps have provided people today a great rationale to question which makes me feel ashamed"
There was only one dilemma with the offers: Each of the wheeling and dealing represented precisely the kind of hazardous speculation that federal regulators are designed to rein in. Derivatives like CDOs and credit score swaps had currently caused a collection of serious financial calamities: Procter & Gamble and Gibson Greetings both equally shed fortunes, and Orange County, California, was pressured to default in 1994.
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