Financial Services Industry
Industry: Email Alert RSS FeedReport identifies sub-prime crisis causes.
Financial Adviser, April, 2008
Boston Consulting Group report into sub-prime claims that full crisis impact has yet to unfold. Joy Dunbar
The sub-prime crisis resulted from "flawed" beliefs and "market utopia", according to the Creating Value In Banking 2008: Managing Shareholder Value In Turbulent Times report.
The report by The Boston Consulting Group, said that the shockwaves continue to have a significant impact upon the banking industry.
The report said that the crisis resulted from "flawed" beliefs and "market utopia" in the banking sector, including: homeowner credit seemed strong, investors in mortgage securities were sophisticated and there was a belief that risk was widely distributed.
The report stated: "The full impact of the crisis has yet to unfold,...
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