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Four More Years!

Unsurprisingly, from my perspective, President Obama was re-elected in the US election. How did Wall St react? The Dow Jones fell by 2.36% and the Nasdaq fell by 2.48%. Why? One possibility is that Obama's re-election means that the fiscal cliff crisis will occur again within a matter of weeks. Another possibility is that Wall St wanted Romney as his policies were pro-business.

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The Failure of Herstatt Bank

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