A lire cette réflexion sur la crise et dix leçons,tirées du blog Writedowns (en lien):
1)Duration mismatches (borrowing short and lending long)
2)Accounting (Mark-to-market, deferred tax assets and a lot more)
3)Conflicts of interest (no Chinese walls, ratings agencies)
4)Regulation (especially given poor risk controls)
5)Risk management (is Meriwether a leading indicator?)
6)Investment Banking vs. Utility Banking
7)Too big to fail (they must be downsized)
8)Heads I win, tails you lose (socialization of losses is crony capitalism)
9)Quantitative easing (QE has costs)
10)Hedges instead of capital
Lien:
http://www.creditwritedowns.com/2009/11/ten-lessons-from-financial-crisis-investors-will-soon-forget.html
1)Duration mismatches (borrowing short and lending long)
2)Accounting (Mark-to-market, deferred tax assets and a lot more)
3)Conflicts of interest (no Chinese walls, ratings agencies)
4)Regulation (especially given poor risk controls)
5)Risk management (is Meriwether a leading indicator?)
6)Investment Banking vs. Utility Banking
7)Too big to fail (they must be downsized)
8)Heads I win, tails you lose (socialization of losses is crony capitalism)
9)Quantitative easing (QE has costs)
10)Hedges instead of capital
Lien:
http://www.creditwritedowns.com/2009/11/ten-lessons-from-financial-crisis-investors-will-soon-forget.html
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