Friday, July 20, 2007

Fed's Poole: Subprime losses due to poor practices

(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 Business News

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