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Worries about credit losses have driven down bank’s share prices. This has caused paper losses for many investors who infused billions of dollars of capital into the industry, including many private equity firms and sovereign wealth funds. With the smartest people in the US making the biggest mistakes, the later half of 2007 marked a crisis that has also translated into thousands of layovers, dramatic unemployment rates and crashing housing prices. However, there are still a lot of smiles around, albeit in a different part of the world.
Take a look at this headline in one of the local papers here in Singapore; “Penthouse with HK Victoria Harbour View sold for $39 million; Sale Price makes it most expensive apartment per square foot in Asia”...
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