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Between Barclays, Lloyds, and HBOS, the entire British banking system, he thought, was at risk. Those who worked in the finance industry earned an astounding $53 billion in total compensation in 2007.

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The new owner can then close the segment, which is what Martin Marietta did to the GE unit it acquired. Of course, he had no way of knowing precisely how or when that would happen, and no amount of studying or preparation could have equipped him to deal with the low apr personal loans online events that began in early 2008 March. It was a complicated, and almost comical, situation: Solomon and Weinberg had traveled to Fairfield to advise its client on coping with the financial crisis, beginning with a plan to capital raise.

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