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“The recovery in profitability has been amazing, leaving Barings to conclude that it was not actually terribly difficult to make money in the securities business.”

—Peter Baring, Chairman of Barings Bank, September 1993.

Replying to Peter Norris’ remark: “We’ve tried everyone. It’s hopeless.” “I therefore have to inform you that Barings is insolvent and will go into immediate liquidation.”

—Also Peter Baring, Chairman of Barings Bank, February 1995.