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Crdit LyonnaisCrdit Lyonnais is a French bank. It used to be the largest French bank, and it was state-owned. History Founded in 1863 in Lyons by Henri Germain, Crdit Lyonnais was nationalised in 1945. During the 1990s it has been the subject of financial scandals, and created a huge debt of about 150 billion French francs by exaggerate investing, but mostly through subsidiaries. Their motto of the time, Le pouvoir de dire oui, literally the ability to say 'yes which more or less meant we can lend you money so that you can say 'yes' to your desires has been put to the extreme. Crdit Lyonnais notably owned the MGM movie studio for a few years. Giancarlo Parretti was the chief of the studio at the time. Crdit Lyonnais is also involved in the Executive Life insurance scandal. The finances have been sanitized by moving the debt into a new state-owned organism, Consortium de Ralisation (CDR). In 2003, the bank was bought by Crdit Agricole. In 2004, the investment banking business of the bank was spun off to an existing subsidiary of Crdit Agricole, Crdit Agricole Indosuez, which was renamed Calyon. Crdit Lyonnais continues to exist as a nationwide retail consumer bank. External link - http://www.creditlyonnais.com
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