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The first, protecting investors, is achieved by regulating the flow of accurate and complete investment information disclosure. The following year, Wasserstein and other investors took out more than a hundred million in dividends, paid for with borrowed money—covering their original investment plus a twenty-three per cent profit—and charged Harry and David millions in “management fees.” Last year, Harry and David defaulted on its debt and dumped its pension obligations.
Publisher: Asian Development Bank (April 1, 2016)
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