Abstract
Capital is an instrument — not a profound pleasure. As executives from the Securities and Exchange Commission (SEC), Federal Reserve, Federal Deposits Insurance Corporation (FDIC), Office of the Controller of the Currency (OCC), and Office of Thrift Supervision (OTS) underlined in meetings we had in Washington and Boston, a top responsibility of senior management is the preservation of assets.1 This is true even if speculation has joined industry as one of the economy’s pillars.
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Notes
D.N. Chorafas, Reliable Financial Reporting and Internal Control: A Global Implementation Guide. Wiley, New York, 2000;
D.N. Chorafas, Implementing and Auditing the Internal Control System. Macmillan, London, 2001.
D.N. Chorafas, The Management of Bond Investments and Trading of Debt. Butterworth-Heinemann, London, 2005.
William D. Cohan, The Last Tycoons. Doubleday, New York, 2007.
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© 2009 Dimitris N. Chorafas
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Chorafas, D.N. (2009). Earthquake in the Subprime Mortgage Market. In: Financial Boom and Gloom. Palgrave Macmillan Studies in Banking and Financial Institutions. Palgrave Macmillan, London. https://doi.org/10.1057/9780230235830_4
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DOI: https://doi.org/10.1057/9780230235830_4
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-36763-4
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