Belmont Club

By Richard Fernandez

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Boom and boom

October 16, 2008 - 5:02 am - by Richard Fernandez
veracious
2008-10-18 10:43:24

sf,

The CRA forcing bad loans as the starting point. The protective reaction was MBS/CDS/derivatives. These new instruments were flawed by optimistic risk analysis, greed and the lack of government oversight (unregulated insurance).