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Subprimes, overconfidence - created by O.Chevet
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Date : the 16/12/2007
Visited : 6990
SpotRank : 260918
Channel: Economics, Finance
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Subprimes, overconfidence Follow

Harry Potter and the crisis over subprime mortgages

Voldemort can only be killed once Harry finds each of these objects, known as horcruxes, and destroys them - and the act of destroying them is itself fiendishly difficult. After nearly a year of the subprime crisis, that sounds dreadfully familiar. Subprime loans, which should never have been offered to the borrowers, were split into many complicated financial instruments, and distributed, or hidden, worldwide. The battle for investors and regulators has been to identify where these subprime "horcruxes" are, and to neutralise them. Until they are all found, Lord Voldemortgage rules the earth.

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View original story on http://www.ft.com/cms/s/0/58b83ab8-aaaf-11dc-a779-0000779fd2ac.html?nclick_check=1
O.Chevet
O.Chevet : "Even the FT invokes magical powers to stop it"
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