The Credit Ratings System and the Economic Crisis
|Running Time: 132 seconds
||Published: 2011-01-24 09:39:20
One of the puzzles of the 2007/8 credit crunch is how a relatively small loss of capital in a tiny market segment was transformed into a global financial crisis costing close to $1 trillion and sending the world economy into slowdown.Key players in this tragedy are a set of legal and accounting principles that are well-meaning, but turn financial hiccups into liquidity black holes.
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