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Investment banking has, in recent years, resembled a casino, and the massive scale of gambling losses has dragged down traditional business and retail lending activities as banks try to rebuild their balance sheets. This was one aspect of modern financial liberalisation that had dire consequences. ↗
Bulgaria is fascinating. Because it had been a Communist country until the mid-80s, so it had just recently transitioned. And there were still the police towers on the street corners, where they look down - they were still there, although no one was in them. ↗
