A. Milne – Fall of the House of Credit

How was it possible for problems in one relatively small sector in the global financial system the American sub-prime mortgage market to lead to the most serious economic crisis in living memorya Alistair Milne untangles the complex world of modern banking and examines solutions to the crisis. He shows how the banks misused their ability to securitize loans and, by borrowing short and lending long, exposed themselves to exceptional risks when asset prices started to fall. But it has been abo