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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 368.29

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Nov 7 4:00 PM EST

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To: elmatador who wrote (33516)	4/21/2008 2:40:24 AM
From: Elroy Jetson	Read Replies (1) of 217591

Are Brazilians really as well defended against bank losses as all this? March 21, 1996 Banco do Brasil S.A., Latin America's largest bank, said today that it lost $4.3 billion last year, an amount greater than its net worth. The Government immediately announced a rescue plan to increase the capital of the state-controlled bank by $8 billion. The rescue marks the third major bailout of a large Brazilian bank in less than a year. Banco do Brasil, with 4,900 domestic and 45 international branches, has an enormous work force of 119,400. 26 May 2006 Brazil arrests former bank head The former head of Brazil's Banco Santos, Edemar Cid Ferreira, has been arrested on suspicion of committing fraud while managing the bank. Brazilians lost almost $1bn in banks owned or linked to Mr Ferreira. Brazilian banks simply don't have the courage to confess yet. .

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