Finance Needs to Be Prepared for the Unexpected
Bloomberg reports that excessive leverage puts everyone at risk. Here’s what to do about it.
Ideally, nobody would have to worry about the burgeoning and multifaceted realm of nonbank finance: Let hedge funds, securities dealers and the like take whatever risks they want, as long as they bear the full consequences. Yet time and again in recent years, concentrations of leverage — or borrowed money — have collided with unexpected events to wreak havoc, catching... ...
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