The mortgage-backed securities meltdown whose effects still haunt our economy sprang from a simple cause: The rules of the game gave big incentives to every player involved to ignore the problems and keep collecting their fees. And despite financial reform, those rules haven’t changed much.
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Misplaced Incentives Were the Rot at the Core of the Financial Crisis originally appeared on DailyFinance on Mon, 27 Sep 2010 09:20:00.
Filed Under: Economy, Investing, Goldman Sachs , Citigroup, Real Estate