Earthquake in the Subprime Mortgage Market
Capital is an instrument — not a profound pleasure. As executives from the Securities and Exchange Commission (SEC), Federal Reserve, Federal Deposits Insurance Corporation (FDIC), Office of the Controller of the Currency (OCC), and Office of Thrift Supervision (OTS) underlined in meetings we had in Washington and Boston, a top responsibility of senior management is the preservation of assets.1 This is true even if speculation has joined industry as one of the economy’s pillars.
KeywordsInterest Rate House Price Money Supply Hedge Fund European Central Bank
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