George Soros Quotes:
Ocupation: Business magnate
Life: b. August 12, 1930
Birthday: August 12
The securitisation of mortgages added a new dimension of systemic risk. Financial engineers claimed they were reducing risks through geographic diversification: in fact they were increasing them by creating an agency problem. The agents were more interested in maximising fee income than in protecting the interests of bondholders. That is the verity that was ignored by regulators and market participants alike.
topic: Creating, Agency, Risk, Regulators, Financial Risk
