Heads need knocking. Now.

February 06, 2009 12:00 am

Efforts to prop up US banks’ liabilities have exacerbated the financial crisis while policymakers have failed to grasp the nettle on the asset side of balance sheets, argues Charles Dumas, chief economist at Lombard Street Research in this exclusive guest commentary for EuroWeek. An industry-wide effort to catalogue and value mortgage backed securities and derivatives is a vital step for returning banks to health

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