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2. What's REALLY been going on the credit markets?. What were the conditions leading to the credit market collapse and the bubble that preceded it? . Loose monetary policy, leading toExcess market liquidity in search of yield, leading toIncreased prices/decreased yields in all financial markets, l
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2. 2 What were the conditions leading to the credit market collapse and the bubble that preceded it?
3. 3 What happened to the subprime MBS market?
4. 4 What happened to the CDO market?
5. 5 Leveraging of Risk -- Example
6. 6 Why did the rating agencies get it wrong?
7. 7 Have we seen the worst?
8. 8 Was what happened really a surprise?
9. 9 Chris Butterwick
Independent Risk Monitoring Ltd
10-11 Charterhouse Street
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EC1M 6EE
Tel: +44 207 324 1400
Fax: +44 207 324 1419
chris.butterwick@irml.net
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