Friday, July 20, 2007

UPDATE 1-Fed's Poole-Subprime losses punished poor lending

(Reuters) - "I believe we should conclude that this year's markets
punished mostly bad actors and/or poor lending practices,"
Poole said in remarks prepared for delivery to a real estate
group.




"As is often the case, the market's punishment of unsound
financial arrangements has been swift, harsh, and without
prejudice," he said.


Read more at Reuters.com Bonds News

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