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	<title>World Crisis Online &#187; banks</title>
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	<description>The History of Financial Crises</description>
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		<title>Why Constitution Matters in Financial Crisis</title>
		<link>http://worldcrisisonline.com/2009/12/why-constitution-matters-in-financial-crisis/</link>
		<comments>http://worldcrisisonline.com/2009/12/why-constitution-matters-in-financial-crisis/#comments</comments>
		<pubDate>Tue, 08 Dec 2009 16:49:22 +0000</pubDate>
		<dc:creator>Mr. Wiseman</dc:creator>
				<category><![CDATA[Opinions]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[fundamentals]]></category>
		<category><![CDATA[roots of crisis]]></category>

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		<description><![CDATA[Regardless, as the imminent unwind occurs (not if &#8211; when), it is always the equity tranche that will take the first loss, despite the novel development of the creeping equitization concept for companies such as Citigroup (and soon Bank Of America) where dilution and value destruction of senior capital tranches is only voluntary because the [...]]]></description>
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