The sub-prime crisis was of the mortgage lenders’ own making
As this is my first column, I thought it best to lay down some ground rules. Please do not approach me for a loan. It is not that I don’t want to help but, frankly, I have no knowledge of your credit history. I cannot assess whether a reader in Brasilia is more likely to repay the loan than one in Dublin.
Banks constantly boast about their risk-management systems. I have yet to meet a banker who does not claim to have the world’s most efficient system. Not only can it confirm my suspicions about
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