Feed the Beast

Weinberg, Neil; Condon, Bernard
November 2007
Forbes Asia;11/26/2007, Vol. 3 Issue 20, p74
The authors reflect on the meltdown of the mortgage market in the U.S. They state that What Merrill, Citigroup and other banks taking writedowns in the mortgage meltdown lack is not the brainpower to model risks but the willpower to resist them. They add that since the bonds started trading only within the last decade, there was no historical record of how they would behave in a down market.


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