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Lagarde represents the European interest, Min Zhu the Chinese, Lipton the American, Shinohara the Japanese, and Shafik the developing economies. After a certain time, for example, no one is really sure whether the investment of 50 million euros several years earlier is really economically useful to the firm. Complicating matters, FHFA had recently given the two companies clean bills of health based on their compliance with those weak statutory requirements capital.
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