During the recent financial crisis, many financial institutions around the world failed at great cost to the taxpayer.

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German:

Show your work and conclude with the exact phrasing "Therefore, the final answer is [answer]." where [answer] is just the final number or expression that solves the problem.
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Während der Finanzkrise der jüngsten Zeit sind rund um die Welt viele Finanzinstitutionen in Insolvenz gegangen, was für den Steuerzahler große Kosten bedeutet.