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Aozora Posts 242.6 Billion Yen Loss on GMAC, Hedge Fund Losses

Bloomberg – Aozora Bank Ltd., the Japanese lender controlled by Cerberus Capital Management LP, posted its first loss in a decade, after investments in U.S. lender GMAC LLC and Bernard Madoff soured. The bank booked a 242.6 billion yen ($2.5 […]