I became very angry when I read this article. http://www.moneymarketing.co.uk/regulation/fsas-turner-slams-massively-negative-shadow-banking-system/1050056.article I could not disagree with Lord Turner more in his analysis. The problem with the securitisation was the fact the rating agencies totally miss-priced the risk element. If the risk element had been correctly identified the demand would not have been so great and the effects would have been significantly mitigated. I also notice that there was not an apology for the failed regulatory oversight.rnrnThis information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action.rn
