BayernLB Gets $38 Billion Lifeline

The troubled Munich-based lender, hit hard by U.S. and Icelandic losses, becomes the first German bank to get a government bailout

BayernLB has already earned itself the unenviable accolade of becoming Germany's first bank to request help from the government bailout funds. On Friday it added a massive bailout package to its trophy shelf: a €30 billion lifeline will be thrown to the ailing business.

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