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Score to settle

18 September 2012 By Raul Gallegos

Banco Cruzeiro’s failure stems from fraud, but it specialized in loans to Brazil’s middle class – a group that grew by 40 mln in 10 years. That’s as short a record as U.S. subprime mortgages had in 2008. The comparison is extreme, but Brazil’s banks need both data and caution.

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