Germany's troubled Hypo Real Estate, sets up a bad bank in an effort clean it books
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Janine RabeJanuary 21, 2010
Germany's Hypo Real Estate has announced it will create a Bad Bank under new German law to absorb the toxic assets that have being weighing on its balance sheets. The new bank will hold up to 210- Bbillion Euros in assets. Hypo Real Estate is the second German bank to make the move.