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The Mismanagement of Credit Risk

  • Dimitris N. Chorafas
Chapter
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)

Abstract

We are still in the midst of a major financial crisis that hit the western world in a vicious manner, and continues to shake the confidence of businesses and of consumers. For all practical purposes the Federal Reserve has got it wrong (Chapter 2), starting with Alan Greenspan who tried to work out his surroundings by feeling his way by touch in a darkened room. Additionally, an uncontrolled financial globalization has made things worse, not better (Chapter 3).

Keywords

Credit Risk Credit Rating Hedge Fund Credit Default Swap International Financial Reporting Standard 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

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Copyright information

© Dimitris N. Chorafas 2009

Authors and Affiliations

  • Dimitris N. Chorafas
    • 1
  1. 1.New York Academy of SciencesUSA

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