Banks loosen lending standards to levels seen before financial crisis – G.G.
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Russian bank manager: “This is the end of the banking system” – CDV
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Items from Mr. Econocobas:
U.A.E. Sees OPEC Output Unchanged Even If Oil Drops to $40
Russia Defends Ruble With Biggest Rate Rise Since 1998
Russian Rate Jump Fails to Stop Ruble Crash – This is looking like it is about to spiral out of control..