Desperate Q4s call for desperate measures

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With the financial crisis escalating in late 2008, even institutions that had previously shown resilience to its effects were dragged into the mire. Several banks revealed significant losses for the fourth quarter as heightened volatility took its toll. And with market conditions likely to remain uncertain, firms took a range of actions that suggest 2009 will see a refocusing on core businesses.

Deutsche Bank was one of the most noticeable casualties, forecasting a EUR4.8 billion loss for the

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