The Crude Crash Comes To Wall Street: Counterparty Risks Rear Their Ugly Heads Again
December 14, 2014 at 11:07 AM EST
In late 2006, default rates on lower-rate subprime private MBS began to rise considerably. Though not a very transparent market to the mainstream media-watching world, bankers knew trouble was brewing as this had not happened before in such a benign house price decline.
