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Posted AT 10:57 PM EST on 02/01/09

Stars & Dogs

Globe and Mail Update

STAR U.S. dollar Okay, let's recap. The U.S. housing market fell into a sinkhole. The country's most venerable financial institutions were teetering on the brink of failure. A mountain of toxic mortgage-based derivatives were contaminating anything that they touched. The credit market was in grand mal seizure, with wary-bordering-on-paranoid bankers hoarding their money under mattresses and calling in those $1.

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