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Thursday, October 8, 2015

Banks are 'locked in' to Glencore's $100 billion debt mountain

Banks are 'locked in' to Glencore's $100 billion debt mountain

Snippet of Article: "... emphasising because of how much it resembles the events leading up to the 2008 financial crisis. The guarantees are opaque, and it's difficult for investors to judge which bank is on the hook for how much of this type of Glencore debt at any particular time. Sounds a little like that toxic mortgage-backed debt from 2008...."

Reference: www.businessinsider.com

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