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... g bankruptcy overnight. Magu Bank managing to hold on for half a month was already quite the feat.

It was all because the top executives were making nonstop decisions that they were able to drag it out this long, at least long enough to transfer some assets.

Starting with the purchase of long-term bonds was a mistake, trying to play it safe turned out to be the quickest path to death. If they hadn’t put their money in long-term bonds and had more liquid assets, Magu wouldn’t have ...

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