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As the tide of financial crisis sweeps the good times away, areas of law that were unglamorous just a few months ago are undergoing a renaissance

What started out as a financial crisis is developing into a global economic recession.

Banks are reluctant to lend, venture capitalists are waiting to see what happens, managed funds are being forced to deal with much-diminished positions, and people from New York to London and Kolkata watch helplessly as the value of their savings and investments tumble to record lows, then falls even further.

In late October stock markets took their steepest dives in decades, then made equally giddy recoveries. Predictions, from those foolish enough to remain in the prediction business, were mostly meaningless.

 

The one thing

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