La citation de la semaine

Citation de la semaine à propos de la crise du subprime

Citation :

Bankers, Müller said, did not adequately understand these investments and relied too heavily on high-grade credit ratings from agencies that helped put together the products they themselves rated.

This ignorance of the risks extended to the top echelons of the banks. "Did I know in March of '04 that there was a U.S. subprime market" that was going to face serious problems in the next few years? he asked. "No, I didn't have the slightest idea. I was a happy man then."

Klaus-Peter Müller, chief executive of Germany’s Commerzbank and president of the Association of German Banks

http://www.iht.com/articles/2007/11/26/business/credit.php

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