A concise explanation of the credit meltdown

Escrito el 17 noviembre 2007 por Juan Toro en Financial Markets

The subprime crisis and the development of the structured derivative markets might be complicated for someone not following the financial press closely. The vast numbers of acronyms (CDOs, SIV,


Stelios Ioannides 20 noviembre 2007 - 16:16

I will enjoy this video in a while as sound is not enabled, in the laptop, I am using currently using.

The suprime crisis occurred mainly because the industry continues to employ models that simply do not reflect reality and / or specific circumstances. Predicting reality is, of course a quite, difficult task but this does not mean that we should be using models that are built on a number of simplified assumptions. Using such models (which in some cases are more than 30 years old) to make decisions at “big” scale produced the recent unpleasant situation putting, at the same time, at stake the reputation of the credit rating agencies.

styczen 5 enero 2014 - 14:17

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