Sachsen Bailed out as Credit Crunch Widens

August 17, 2007 (FT.com) — Sachsen LB, the German publicly-owned bank, on Friday night became the latest victim of the current credit crisis when the Landesbank had to be bailed out because of its exposure to the US asset-backed securities market.
The bank, which is based in and owned by the German state of Saxony, said [...]

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