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A bright future?

With its close links to the US, Mexico might be expected to suffer from a similar slump in structured finance. But having learnt from past experiences, the country's tighter credit controls have insulated it to some degree from the worst of the crisis, as Hugh Collins reports

For nearly a year, structured finance has been suffering from a crisis of confidence. US investment banks have taken hits totalling over $100 billion thanks to poor bets on the mortgage-backed bond markets - with Bear Stearns, the fifth largest bank in the US, among the casualties. With the US Treasury obliged to clean up the mess, and issuance down 75% in the first quarter of the year, it seemed

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