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Now, UK banks haunted by toxic insurance products

Wednesday, August 22, 2012

WN.com - World News
Latest headlines from WN Network
Now, UK banks haunted by toxic insurance products
Aug 23rd 2012, 02:07

LONDON: When businessman Colin Jones approached his local bank for a loan in 2007, he had little idea what an 'interest rate swap' was, let alone a 'structured collar'. Jones wanted 400,000 pounds ($630,000) to buy a small hotel in North Wales and Royal Bank of...
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