The following represents only a single view, and not that of this publication. It is the view of the head of credit risk at an investment bank in Hong Kong û one who believes his senior executives donÆt want to take heed of him, possibly because their bank is exposed to the current credit crunch. This account has been edited.
My evaluation of the subprime mess starts with the premise of the Chaos Theory, which relates to the interconnectedness of everything. That interconnectedness is illustrated by a famous analogy, that of a butterfly flapping its wings in Florida ultimately causing a typhoon in China.
I am not sure if a local US problem caused by...
¬ Haymarket Media Limited. All rights reserved.