The Bankwatch

Tracking the consumer evolution of financial services

Crisis, what crisis?

Brilliant quote from the Big Picture blog.

The Big Picture | Real Estate

I like this quote from Christopher Wood, chief strategist at the broker CLSA:

“This is not a sub-prime crisis. Sub-prime has merely exposed the bigger scam of structured finance; a scam that is about pretending that bad credit is good credit.”

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Written by Colin Henderson

September 21, 2007 at 10:36

Posted in Banking Strategy

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