HRE was hobbled by debts incurred by a German-Irish subsidiary, Depfa, which it bought in October 2007, after the international financial crisis emerged with the collapse of the US market for high-risk, or subprime, mortgages.
Depfa specialises in the financing of public works projects. (emphasis mine)
Low and High Tech, Tactics, Front-End Fixes
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*An Early Friday Hodgepodge*
*Spring break with the wife and kids, and other travel/family obligations
will occupy me over the weekend and into next week. ...
20 hours ago
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